Bernard Matthews Farms is to invest GBP10m (US$15.9m) in the expansion of a number of its facilities across the UK.
The investment, the UK poultry processor told just-food today (4 April), is the highest level of investment in the business since 2006.
Around GBP3m of the investment will be spent on expansion of the company’s Great Witchingham facility, GBP4m will be invested in an anaerobic digester at its Holton factory in Suffolk, and the remaining GBP3m is general investment to be invested across Bernard Matthews’ agriculture and production operations.
The company recently posted an operating loss for the 18 months ended 3 July of GBP6.6m, compared to a profit of GBP2.5m in the prior-year period.
The company blamed the loss on high global feed costs and the European economic conditions impacting consumer confidence and spending patterns.
Nonetheless, group chief executive Noel Bartram said: “Nine months into our current financial year and I am pleased to report that the UK business is showing some encouraging results so far with profits having recovered to their highest levels since 2006.
“Trading over Christmas 2011 was strong and we are increasing the capital investment in the UK business significantly in 2012. The rest of the group is trading in line with expectations.”
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