IN BRIEF - John West hit by 78% profits decline as shoppers trade down
(UNITED KINGDOM, 10/30/2023)
John West profits have sunk by 78% as cash-strapped shoppers flocked to discounters and turned to own label to combat inflation.
The tinned fish brand saw revenues slump 13.5% to £128m as it lifted prices to offset spiralling input costs in the year ended 31 December 2022, according to Companies House accounts. It came on top of a 13.6% fall in the previous year, with revenues now £43.6m below the £171.6m 2020 level.
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