Frozen food company McCain Foods has filed its end of year report for the period ended 30th June 2023, which revealed that profits are up and outlined plans for more sustainable business practices.
McCain reported pre-tax profits of £77.3 million for the 2023 financial year, up on the 2022 rate of £72.5 million. The manufacturer also stated that its profit for the 2023 financial year was £59.8 million, and its total revenue came to £712.5 million.
Its gross profit was recorded as £182.5 million, up on the 2022 rate of £165.8 million.
According to the report, the company directors were “satisfied with the financial position of the company at the end of the year”. The company said it would continue to focus on “product quality, innovation and category leadership”, which it intends to deliver through “planet-friendly practices”.
McCain highlighted an increase in climate events impacting the UK’s potato harvest, and said that it would prepare for the impact by focusing on its agricultural practices and technologies, including development of new potato varieties resilient to climate change. It has also committed globally to implementing regenerative agricultural processes across 100% of its potato acreage by 2030 as part of its sustainability strategy.
