Faccenda Foods, one of the UK’s leading food companies, will continue to invest throughout its supply chain despite reporting that its operating profit has reflected the continued price deflation, at £7.7 million.
Faccenda Foods’ managing director, Andy Dawkins, commented: “I don’t think it’s been an easy year for anyone in the industry. Export and wholesale prices are at historic lows, the market is as competitive as it has ever been, and these, combined with higher feed and fuel prices due to currency fluctuations, have unsurprisingly put pressure on our margins.”
However, despite the challenge competitive environment, Faccenda has continued to invest strongly in the business. The company has introduced new fresh despatch facilities in Brackley, a programme of biomass fuelled heating across its farming estate and continued investment in food safety, with a particular focus on tackling campylobacter.
“Competing in this market requires investment for the long term so that your supply chain is efficient, sustainable and fit for the future,” he said. “This has been our approach when making investment decisions.
“It’s been a tough year but we’ve held up well. Our balance sheet remains strong and we are well positioned in growth markets. Regardless of the prevailing economic conditions some simple rules hold true: focus on your people, focus on your customers and focus on the long term. We’ll continue to do this.”
This story was originally published on a previous version of the Meat Management website and so there may be some missing images and formatting issues.
