Avara Foods has recorded a pre-tax loss of 拢55million
Avara Foods has recorded a pre-tax loss of £55million it its latest financial results, which it claimed is due to a period of restructuring.
Year-on-year sales at the poultry processor declined from £1.5 billion in 2023 to £1.3bn in 2024. The company said the results were to be expected after it undertook a series of move to deliver a more ‘efficient, streamlined supply chain capable of operating out of a smaller footprint'.
The company closed two processing facilities during the period at Newent and Abergavenny, and opened an added value processing site at Wednesbury in the West Midlands.
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Andy Dawkins, chief executive of Avara Foods said the past year was planned as ‘one of change' for the company which employs around 6,000.
"It was necessary to position us for the future," said Mr Dawkins. "We are already reaping the benefits in financial performance in FY25 which is running in line with expectations.
"While closing facilities and losing valued colleagues is never easy, we did this in the right way in line with our strong values. I am heartened by the opening of our new facility at Wednesbury which has grown quickly on the back of strong customer support," he added.
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Mr Dawkins also said the company has heeded the ‘customer-led initiative' to rear birds to higher welfare standards.
"The hard work done on streamlining the business is now bearing dividends. Putting us on track in a market where welfare, affordability and availability are all key priorities as we head into a time when UK food security and production will be more important than ever."
