Cider producer Aston Manor has posted disappointing financial results after “the most difficult trading period in decades.”
The group’s net profit slid from £1.6m to £0.4m after battling rising costs in areas such as materials and energy. It noted vital resources like CO2 were either scarce or simply unavailable during the year, with it taking action to mitigate the adverse impacts of global supply problems.
Meanwhile, turnover was down from £154m to £139m after the business took “the necessary strategic decisions to withdraw from sub-optimal sales agreements”.
The Midlands-headquartered producer makes a range of ciders, including Crumpton Oaks, Kingstone Press, and Frosty Jacks. It also supplies own-label ciders to supermarkets.
Gordon Johncox, Chief Executive, commented: “Very many businesses and commentators suggested that 2020 was exceptionally challenging, though our assessment is that 2021 was every bit as difficult, if not more so.
“Our response was exceptional and driven by the commitment of our people and sustained investment in our capability over several years, we maintained a focus on continuity of product availability to our customers.
“Though, we are not immune to supply chain issues and the seemingly relentless increase in input costs with the shortening of notification periods. We have taken steps to mitigate the impact as far as possible, though we have no option to increase our prices and review elements of our product mix.”
