Malton Food's parent, Unigate PLC, has reported a profit before tax of £124.3m for the year ending April 1, down 12.4pc from the previous year.
Malton Foods recovered strongly in the second half following cost-reduction and other management actions. However, profits for the year, at £15.4m, were well below the previous year's figure of £27.3m.
The report points out that the closure of three plants and other actions during the year reduced the workforce by one-fifth. "This yielded significant cost savings at a time when the pigmeat industry in the United Kingdon is suffering from the strength of sterling and higher welfare costs," the report stated.
According to the report, "Malton Foods is currently suffering a margin squeeze from increased pig costs due to shortages in the availability of UK pigs."
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