Matthew Algie is all perked up

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Coffee firm Matthew Algie has brewed up an increase in annual profits in the face of volatile bean prices and “elevated premiums” for Fairtrade products.

The roaster, which counts Gleneagles Hotel and Sainsbury’s among its customers, toasts its 150th anniversary next year and posted a pre-tax profit of £2.5 million for 2012, despite a 3 per cent dip in turnover to £32.1m.

Chairman Eric Hagman said: “In the face of the effects of continued volatility in coffee prices and a still faltering economic picture, the business held its own. Trading in 2013 continues to be challenging, but we are on target to see further strong growth this year.”