Major food processing group 2 Sisters plunged further into the red last year after racking up a £21.8 million loss.
Newly published accounts show the business, a subsidiary of Boparan Holdings Ltd, enjoyed a significant boost to turnover in the 53 weeks to August 2.
In comparison with the previous 52-week period, income increased from £855m to £992.7m.
However, costs relating to a major restructuring of the business during the year dragged on the bottom line and meant losses widened by almost £6m.
The firm is a major employer in Perthshire after it moved to acquire Vion’s chicken processing plant at Coupar Angus in the spring of 2013.
In January last year, the company confirmed it was cutting 230 jobs at the site around a third of the overall Perthshire workforce.
The move was one of several made by 2 Sisters in the period, including the sale of a second local site at Letham, as it looked to cut its overheads and maximise efficiency.
In his strategic report to the accounts, group chief financial officer Stephen Paul Leadbeater said the majority of the loss made by the firm was due to costs relating to the closure of the Angus factory and a second site in Suffolk.
“The company made a loss for the period predominantly due to one-off exceptional costs relating to ceasing of production at the company’s Letham and Haughley Park sites,” Mr Leadbeater said.
“The businesses carried out at these two sites were transferred to other sites within the company.”
Total restructuring costs reached £23.15m in the 53-week period, up from £1.26m a year earlier.
Of that figure, £8.62m related specifically to redundancy costs incurred at the Scottish and English sites.
However, Mr Leadbeater said the business had made progress.
“Turnover, gross profit margin and pre-exceptional operating profit have all increased in the period,” he said.
“This improvement in results reflects the impact of a number of performance improvement initiatives implemented by management in the prior and current periods.”