Evron Foods hit by 'unforeseen cost'
Portadown bread manufacturer Evron Foods Ltd has suffered a pre-tax loss of almost half-a-million pounds after an "unforeseen exceptional cost" at its Welsh subsidiary.
This was despite an increase in turnover which rose from £37.1m in 2013 to £40.1m in the year ending August 31, 2014.
The firm blamed the loss on a £974,686 "unforeseen" cost in Easibake Foods Ltd, a subsidiary based in Pontypridd.
This led to a £487,800 loss at the company, which employs 338 people, after a profit of just over £276,300 a year earlier.
Evron Food's customers include major supermarkets Waitrose, Sainsbury's and Asda. Evron Foods director Morris Evans said he expected the company to return to profitability this year.
"The long-term growth prospects are also strong as the group is committed to retaining high-quality employees and is well-positioned to benefit from an economic recovery thanks to continued capital investment, expenditure on research and development and a continuing commitment to excellence."