Lakes Free Range Egg Company has seen revenues soar by 36%, according to its latest accounts at Companies House.
Revenues for the egg supplier rose by £25m to £94.5m in the year to 30 October 2024.
This was coupled with an increase to operating profit that more than tripled to £4.8m in the same period, up from £1.4m the year before.
The supplier credited its boost in profits to its partner relationships with a major UK retailer and a leading operator within the QSR market.
“These long-term alliances have been critical in enabling us to support our farmers and invest in our production facility for the future,” said Rebekkah Minchin-Hepburn, sales & marketing director. “Longer contract terms and improved farmer rewards mean we are in a great place to support strong free-range and organic egg market growth.”
In the accounts, the group raised potential challenges with supply and demand with the move away from caged eggs by retailers likely to put pressure on the supply of eggs and on producers.
However, it said the group was “well placed in the market to widen its customer base using our efficient methods of production without sacrificing product quality”.
Other risks flagged in the accounts included avian influenza, economic downturn and cost inflation, competitor pressure and loss of key personnel.
Impact on climate change and emissions
The group also reported on its energy and carbon use, which increased to 3.3 million kWh for the year, which it said “reflects the increased growth” within the company and operations.
Lakes added that it had taken biodiversity measures, installed solar panels and battery storage, moved to LED lighting across operations, moved to boreholes and a biomass boiler system for all energy, and fitted trackers to vehicles. All of this had made an impact on reducing figures reported in the [climate] intensity ratio, it claimed.
“We have always been proud to lead the way when it comes to hen welfare and sustainability, and being a 2025 recipient of the King’s Award for Sustainable Development has been the icing on the cake for all the hard work and diligence shown by the whole team at the Lakes,” said Minchin-Hepburn. “Shaping our company to lead in the increasingly important area of sustainability has driven significant growth.
“Continuing our journey for a sustainable future helps our retail and QSR partners achieve their net zero aims and objectives too.”
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