Harsh winter boosts animal feed supplier

HARBRO, the Turriff-based animal feed supplier, booked a 60 per cent leap in pre-tax profit after farmers ordered more food to cope with 2009-10's harsh winter.

Profit rose to 1.9 million in the year to 30 June, compared with 1.2m in the previous 12 months, according to accounts filed at Companies House.

Turnover edged up 4.5 per cent to 68m as the company continued to capture market share in the south of Scotland and north of England. Net debt continued to fall - down to 6.6m last year, compared with 9.5m in 2009 and 11.6m in 2008 - and the reduced interest costs helped to boost profits.

Director Graham Baxter said: "Volatility in raw material markets continued in the year and, as late-2010 has shown, this has move upwards, with grain prices at 160-190 per tonne versus 85-95 per tonne in 2009."