Appetite for organic food continues from Covid boom but firm warns inflation and rising costs are eating into profits
The organic vegetable box company Riverford doubled its payout to shareholders – including hundreds of workers – to £850,000 last year despite a dive in profits as sales continued to grow beyond the pandemic boom.
Sales rose 1% to £110.8m in the year to 30 April 2022. However, the company said that trading conditions and cost pressures this year and next could be some of the worst in its 36-year history after profits dived 56% to £5.2m.
