UK poultry producer Bernard Matthews has booked a loss of over GBP20m in its latest financial accounts.

It posted a pre-tax loss of GBP20.4m for the year to the end of June, compared to profit of GBP2m a year earlier.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

The company pointed to high feed prices, poor wheat quality – which it claimed affected “bird performance” – and one-off costs from restructuring its business in Hungary.

Sales were up 1.5% at GBP346.4m.

Since the end of June, investment fund Rutland Partners has acquired a stake in Bernard Matthews.

David Joll, Bernard Matthews’ executive chairman, rejoined the company in May to run the business to lead the process that led to Rutland Partners’ investment.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

He said the financial results were “clearly disappointing” but said Bernard Matthews was looking to return to profit in the current financial year.

“The positive news is that since our year end we have addressed many of these issues and have welcomed Rutland Partners to the business. With improved trading conditions, and the new injection of capital into the company, we have a greater level of stability and financial headroom to achieve our objective of returning to profitable growth in 2013/14,” Joll said.

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now