Bernard Matthews posted a loss of £4m for 2009, according to the turkey supplier’s latest accounts.
The performance represents a modest improvement on the previous year, when group losses stood at £4.4m. Sales were down slightly from £335.1m in 2008 to £330.5m.
UK managing director Jeff Halliwell, who took the reins last June, said the business had “significant scope for growth”.
“In the UK, we are two years into a four year strategy based on sustained investment while simultaneously reducing operating costs, which have delivered significant savings in 2009,” Halliwell said.
The news comes after Bernard Matthews last month moved to ramp up its free-range offering by snapping up premium producer Lincs Turkeys.
Celebrity chief Marco Pierre White was also brought on board in a bid to re-position the brand towards the higher end of the market.
Matthews raises game in turkey with Lincs buy (8 May 2010)
Bernard Matthews brings back ‘bootiful’ (17 April 2010)
Bernard Matthews in supply deal to Germany (3 April 2010)