Food ingredients supplier Macphie has flagged “increased growth opportunities” after doubling profits to £2.8 million.
The Glenbervie-based firm said it had bounced back after being stung by higher raw material costs a year earlier. Its latest results also show a rise in sales, to £44.6m from £44.3m in 2014. Gross profit increased to £11.5m from £9m.
The weakness of dairy sector pricing is said to have contributed “significantly” to margin recovery and largely compensated for the significant hit the business suffered the previous year.
Chairman Alastair Macphie said: “It’s a very positive set of results which is particularly pleasing given the challenges the business faced the previous 12 months, especially due to the increase in raw material costs. These results are testament to all the hard work and dedication of Macphie employees”.