2 Sisters posts annual loss of £25.9m

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2 Sisters Food Group has recorded an annual loss of £25.9m in its latest financial results covering the year to 1 August 2020. This is an improved result on the year before, when losses reached £69.3m.

2 Sisters Food Group is a wholly owned subsidiary of Boparan Holdings. During the course of the year, in November 2019, the company acquired the trade and assets from 2 Sisters Poultry, a fellow group subsidiary.

Turnover for the period was £1.275 bn, up 6.3% from the previous year. The company attributed this growth to the acquisition of trade and assets from 2 Sisters Poultry. The gross margin increased compared to the previous year from 3.4% to 8.8%, which the company said reflected improvements to operating performance.

The company said the COVID-19 pandemic had brought volatility and uncertainty to the business, specifically through the lack of labour caused by the requirement to self-isolate.

 

By Chloe Ryan / Poultry News

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