The unprecedented uncertainty and market disruption caused by the COVID-19 pandemic has lead to a fall in sales and profits at Hook2Sisters.
The joint venture between PD Hook and 2 Sisters Food Group reported full year sales to 31 July 2020 of £769 million, a fall of £26,5 million compared to the previous year. Profit before tax for the same period was £254,000, compared to £845,000. The company said it had been through “a period of significant change and turbulence”.
It noted the decrease in annual sales was linked to a reduction in the average price per kilogram of chicken, but said the volume of product it sold had increased slightly.
The company said despite the difficult trading environment it was optimistic about the future, and foresaw strong demand, with Brexit presenting a potential opportunity for increased demand of British poultry.