The family-owned pet food business behind brands such as Butcher’s significantly cut its losses during its latest financial year, it has been revealed.
Butchers Pet Care, which is headquartered in Northamptonshire, has posted pre-tax losses of £348,000 for the year to July 31, 2023.
The total compares to the £6.1m the business lost in the prior financial year.
The last time the group posted a pre-tax profit was the £1m it reported in the year to July 31, 2018.
Newly-filed accounts with Companies House also show that its turnover increased from £108.3m to £138.4m during its latest financial year.
Butcher’s Pet Care’s UK turnover increased from £100.7m to £128.2m in the year while it went from £7m to £9.1m in the rest of Europe and from £575,000 to £1m in the rest of the world.
The average number of people it employed during the year also rose from 367 to 395.
In a statement signed off by the board, chairman Graham Baker said: “Trading since year end has been strong, with our brands continuing to deliver year-on-year growth.
“Inflationary pressure in our inputs have stabilised, but we remain mindful of the continuing cause of distress for many consumers.
“We are fortunate to have focused our strategy on affordable natural food, where we have a clear point of differentiation in the market.
“Operational improvements continue and supply remains high despite the ongoing pressure of strong demand on output.
“The strength of our brands and the opportunities for sustainable growth in a category that has demonstrated resilience in the face of tough market conditions in the wider economy, together with further operational improvements, underpins a promising long-term outlook.”