per cent) and commercial contracts (79 per cent). "Government funding for the agri-food sector will continue to be challenging and be compounded by the uncertainty created following the UK referendum in June 2016 leading to Brexit. Whilst UK government recognises the importance of the agri-food sector, it is not anticipated that there will be significant additional income in the next 12 months.” Not exactly food producers, but Cheltenham headquartered SOHO Coffee also released its annual report recently, and had this perspective. “In addition to general economic uncertainty over future levels of consumer demand and supply side issues, the impact on the group of the Brexit process and the UK's pending withdrawal from the European Union is currently unclear. "In particular there is uncertainty over the extent to which purchasing and import costs may increase as a result of Brexit; and the long term implications for the labour market, particularly in London. "The impact of Brexit on the value of sterling in particular could affect many of the above factors negatively or positively, and also have a bearing on
future rate policy of the Bank of England." In particular it had concern for “the high level of overall competition for customers, staff and property opportunities in the UK food and beverage market”. Family-owned and run Gloucestershire food supply business Creed Foodservice at least has the bases covered, according to its annual report. “There remains considerable uncertainty over the UK's future relationship with the EU. However, Brexit is not expected to have significant operational impact on the group. One hundred per cent of the group turnover is from the UK. “All group companies are resident in the UK. The majority of the group's key suppliers are supplying from the UK. There is a potential risk of suppliers being impacted by border controls or currency fluctuations which may impact the cost base.” The government has issued guidance to the food and drink sector for preparing for EU Exit l You can find out more by visiting the www.gov. uk/guidance/the-food-and-drink-sector-and- preparing-for-eu-exit
Buy one today & help these three great charities: Sue Ryder, Nelson Trust and Pied Piper Appeal. Yours for just £20 . Call 01452 308781 or email beth@moosemarketingandpr.co.uk
July 2019 | www. punchline-gloucester .com | 113
Made with FlippingBook - Online catalogs