wing yip croydon

Pre-tax profits at wholesaler Wing Yip fell by almost 30% for the year to September 2017.

According to accounts filed at Companies House this week, pre-tax profits were down from £4.8m to £3.5m on turnover up 8.7% from £101m to £109.8m. Cost of sales increased nearly 12% from £77.6m to £86.7m.

The results were the reverse of the previous year’s, when turnover fell - down £2m to £101m - but pre-tax profits rose - by £70,000 to £4.8m.

Total staff costs last year, including directors’ remuneration, increased from £10.9m to £11.6m.

Its Companies House submission of the latest results cited a “challenging” business environment and “the state of agriculture worldwide”.