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Wednesday, June 10, 2015
2 Sisters Food Group now among UK’s top ten largest private companies
2 Sisters Food Group has been ranked 8th out of 100 private companies in the U.K. by The Sunday Times HSBC Top Track 100 annual survey.
The newspaper’s annual poll ranks private companies by sales, and 2 Sisters’ increase to GBP3.4 billion (US$5.2 billion) means the company has risen in the ranks by six places from last year.
For the year ending July 2014, the company reported profits of GBP176 million and employed a staff of 23,767.
Difficult start to year
For the 13 weeks to January 31, 2015, the company reported sales of GBP797 million, a decrease of 6 percent compared with the same period the year before. Adjusted operating profit was also down slightly at GBP13.1 million.
Looking to the year ahead, the company noted that trading conditions remained tough for food manufacturers and retailers. Group profitability was expected to continue negatively affected by avian influenza, as international markets remained closed.
Despite the difficulties for the company’s poultry division, other parts of 2 Sisters' business were said to be recording an improving performance.