Turkey consumption is increasing, says producer
Turkey processing giant Bernard Matthews Farms has announced it still has progress to make, despite positive results shown in its end-of-year report.
In its results for the 12 months enduing 1 July 2012, group sales from continuing operations were £341.4m, while operating profit from continuing operations before exceptional items was £5.3m. Profit before tax for the 12-month period was £2m.
The report also highlighted an increase in domestic turkey consumption of 4.4% as a contributing factor to the results, but added: “The outlook remains cautious in a testing economic environment.
“Trading conditions continue to be challenging, with high levels of commodity inflation, particularly in respect of feed prices, and continued weak consumer spending.”
Chief executive of the Bernard Matthews Group Noel Bartram said: “While the performance in the last financial year has been encouraging, there is still significant progress to be made. We have continued to incur unprecedented feed cost increases and do not envisage such increases abating over the coming year. With consumer spending and the wider economy remaining weak, we are cautious on our outlook for the next 12 months.
“Nonetheless, we remain focused on our strategic objective of doubling turkey consumption in the UK by 2020 and are encouraged by the 4.4% growth over the last year. I believe this to be a reflection of our continued efforts to promote turkey as a healthy and affordable meat.”
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