JW Galloway reports strong financial year
Published:  21 November, 2017

Scottish processor JW Galloway has reported growth in turnover and profits for the year.

In its annual report for the 12 months to 26 February, posted on Companies House last week, it recorded that total turnover for the group was £320 million (m), up 2.8%. This growth was attributed to a rise in volume sales domestically and strong price inflation on livestock for an extended period.

Its profits before taxation were up 11.9% from £5.6m in 2016 to £6.3m in 2017.

In the report, JW Galloway also earmarked some “key areas of development and performance”. This includes continuing to invest heavily in product development to increase market share; exploiting the export market of the business development opportunities it has offered recently as well as currency fluctuations; and examining new methods to achieve greater environmental effectiveness.

It did identify some risks the market is posing as well. These included the UK leaving the European Union, livestock availability and prices, the competitive UK retail sector, animal health and the double-edged sword of currency fluctuations.

In an effort to mitigate these risks, the business is looking at new development opportunities, maintaining supplier and customer relationships and the development of contingency plans should an animal health issue arise.