AIM-listed dairy firm Norish (LON:NSH) saw its share price climb by 7.76% to 125p (as 11:00 GMT) despite pre-tax profits dropping by 14% for the year ended 31st December. Group revenues were down by 2% and operating margins declined by 90 basis points, but the cold storage division held up better amidst the COVID and Brexit linked pressures.
Management said that the recovery seen in the latter part of the year in the cold storage arm had continued in the current year and the firm expects product sourcing to recover during the second quarter of 2021.