McCain GB returns to profit in latest accounts

closup of potatoes

McCain Foods (GB) posted a pre-tax profit of £50m on sales of £528m in its most recent financial results, which cover the year to 30 June 2021.

Sales returned to growth in the period after the initial impact of the covid-19 pandemic disrupted established supply channels, the firm said, with turnover up from £499m a year earlier.

See also: VHM crop handling system cuts labour requirements

McCain said covid-19 had prompted it to focus on three objectives: workforce safety; cash preservation and revenue generation.

“For the financial year ended June 2021, the ongoing covid pandemic has continued to impact business operations,” the directors’ report says.

“While total sales have returned to growth… The pandemic has continued to affect closures/restrictions within Out of Home markets, which in turn have impacted operations as a result of managing demand and supply across all channels.

Stable harvest

“Operationally, the business experienced a more stable crop harvest but still had to manage impacts on potato supply from the previous harvest and the surplus of raw potatoes created by the pandemic.

“The business pledged £25m investment to support and protect the future of British potato farming and its growers, to manage the increasing impact of the weather as well as the impact of Covid-19.”

Posted in All