By Kevin White2020-12-10T12:25:00+00:00
Source: Yeo Valley
The supplier saw pre-tax profits rise by 31.6% to just under £4m for the year to 31 May 2020
Yeo Valley has bounced back into profitability growth following a major hit to its bottom line last year.
The west country-based producer registered a 72% fall in pre-tax profits last year, from £10.7m to £3m, due to increased one-off costs linked to property disposals and restructuring.
However, the supplier saw pre-tax profits rise by 31.6% to just under £4m for the year to 31 May 2020, according to accounts filed with Companies House for its main business Yeo Valley Production, while profit margins rose from 0.9% to 1.6%. Improved profitability was driven by “wastage improvement initiatives and other operational efficiencies”, Yeo Valley said.