Scotbeef fights Brexit uncertainty to grow sales
In its accounts for the 12 months to 24 February 2019, published on Companies House, Scotbeef reported a 6.8% rise in turnover from £303m in 2018 to £323m while its operating profit rose from £5,305,000 to £5,839,000.
The business outlined the main factors affecting it. These included Brexit which has forced Scotbeef to “develop new opportunities”, livestock availability, a competitive sales market and the threat of animal disease.
Parent company JW Galloway also published accounts for the same period but reported that although Brexit is hindering export progress, the export market has “offered business development opportunities” coupled with favourable euro exchange rates that the company is “looking to exploit over the forthcoming year”. The KW Galloway report added that the company continues to invest heavily in product development with the aim of increasing its and its customers’ market share.
JW Galloway also invested £4.7m over the year in plant and equipment to “maximise production efficiency” and has committed to “continually examining new methods of achieving greater environmental effectiveness”.
