Farmison makes first net profit as sales doubled in lockdown

THE SUSTAINABLE meat retailer Farmison has revealed that its sales doubled during lockdown.

Farmison & Co yesterday revealed it had achieved strong growth for the nine months to December 31, 2020 and declared an annual net profit for the first time in its short history.

The audited Companies House filing, resetting Farmison’s accounting period to match the calendar year, came a week after it announced the appointment of KPMG to explore strategic options for the business.

A spokesman said: “The business achieved phenomenal growth, more than doubling sales in the past year, regularly achieving over £1m sales each month.

“But this hasn’t been a oneoff boost. It builds on Farmison’s growth story with 40 per cent of new customers placing a second order and research that’s showed only 1.25 per cent of customers said they would cease using Farmison once the lockdown ended.

“And with highly favourable market fundamentals such as the growth of online, the increased commitment to eating better and a customer committed to sustainability, Farmison now has ambitions to disrupt the meat industry, as it becomes a £100m brand in a category where consumer choice has largely been limited to an unbranded offer.”

E-commerce sales rose from £3.4m to £10m in FY20, as overall revenue doubled from £5.4m to £12.1m.

The company tripled the size of the workforce at its Ripon base to more than 100 people over the last year.

John Pallagi, Farmison & Co CEO and founder, said: “Last year’s obstacles caused us to slow down, hibernate and appreciate our families more than ever. Many of us have used that gift of time, to cook at home and seek food that tastes great and is better for our environment.

“I’d like to thank new and old customers alike for their support in 2020 – every one of them is helping sustain responsible farming that’s in balance with the beautiful landscapes of our farmers across Yorkshire, Lancashire and Cumbria.

“And not only are UK customers re-discovering our unique heritage breeds and their glorious taste, I believe the reputation of sustainably reared British meat across the world has never been higher.

“So that’s why, as we look for new trading arrangements with the world, we should be putting our best farmers at the heart of new trade deals.”