Noble Foods Group has reported a 650% jump in profits as a strategic review of the business coupled with a “more stable” US egg market boosted sales.

Recently-filed accounts at Companies House showed pre-tax profits up to £8.3m from £1.1m in the year ended 28 September 2018.

Net profits increased “as expected” to £5.8m.

“Two years ago, we started a strategic re-organisation of the business which we believed would deliver sustainable growth for Noble Foods in a very challenging food and drink environment,” a spokesman for Noble foods said.

“Our latest results point to the fact that this plan, coupled with extremely close working relationships with our partners across all channels and an in-depth understanding of the consumer landscape, is starting to deliver the outcomes we had hoped for.”

Despite generating over 90% of turnover in the UK, Noble Foods said the sales and profits improvement was “largely attributable to a more stable egg market in the US”, as it recovered from the previous year’s Avian influenza breakout.

The Happy Egg Co producer’s total turnover rose 4.7% to £344.1m, while the company reduced administrative and distribution costs by 6% and 4.4% respectively.

“There is continuing competitive pressure which always drives us to reducing our costs and improving our efficiencies,” Noble Foods Group said.

The general level of activity is expected to “remain consistent” going forward, with Noble Foods “cautiously optimistic” about its future performance.

The company’s spokesman added: “As widely documented, market conditions remain extremely volatile. Brexit is a key concern, consumer confidence is low and food trends are changing at an ever increasing pace.

“We are cautiously optimistic about the year ahead with some interesting innovation that we will be discussing with retailers in the coming months to help them capitalise on current and burgeoning consumer trends.”

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