The Royal Norfolk Agricultural Association (RNAA) revealed its financial statement for 2025 during its annual general meeting.

Members were told that last summer's successful Royal Norfolk Show, which attracted 81,000 visitors, helped the RNAA generate a total income of £5.65m across all its trading activities in 2025 - a "significant increase" on the previous year's £4.01m.

But the association was left with an overall net deficit of almost £89,000, mainly due to the start-up costs and initial trading of the Norfolk Food Hall, which opened last May.

The flagship project reflects the RNAA's continued ambition to promote farming and food production, while generating year-round revenue from the showground.

The £3m Norfolk Food Hall was formally opened at the Norfolk Showground in May 2025 (Image: Sonya Duncan)

It now welcomes more than 12,000 visitors per month, showcasing around 150 food and drink suppliers, of which more than 85pc are from Norfolk and Suffolk.

Finance director Laurie Hill said the association's underlying financial position remains "robust", and the deficit "was anticipated and planned for as part of a year featuring both heavy capital investment and the launch of a significant new trading activity".

"As expected, the headline financial result for the year has been significantly influenced by the opening of the Norfolk Food Hall," he said.

"Norfolk Food Hall Ltd generated revenue of £1.6m in its first period of trading, but recorded an opening loss. This was budgeted, and was reflected in pre-trading costs and the realities of launching a major new enterprise.

"The facility has been, though, extremely well received with growing community use, increasing producer engagement and is trading ahead of budget expectations since January 1."

In his annual report, RNAA chairman Robert Alston said the major farm shop and restaurant was launched during "a period of steady progress and renewed public engagement for the RNAA".

"The Norfolk Food Hall is a £3m investment in the region’s food economy," he said. "We remain very grateful to the many donors and supporters who contributed over £800,000 towards the capital cost of the project.

"Despite an initial challenging trading period, it is now trading consistently and month-on-month growth is evident in its trading performance, which is now positive.

"The association made a planned deficit of income over expenditure, much of which can be attributed to the opening costs and initial trading performance of the food hall. Pleasingly, other aspects of the business performed well in 2025, including the Royal Norfolk Show, which produced a modest surplus over expenditure.

"Overall, 2025 can be seen as a positive and forward-looking year for the RNAA. It successfully strengthened its public presence and deepened its educational impact.

"With careful navigation of the challenges ahead, the association is well placed to continue supporting and championing Norfolk’s rural community in the years to come."

© Eastern Daily Press