Yield drives Continental growth

CONTINENTAL Farmers, the eastern Europe-focused agricultural business headed by Scottish farming entrepreneur Mark Laird, yesterday posted a double-digit rise in turnover thanks to higher crop yields and cereal prices.

The company, whose board members include former Edinburgh Tory MP Sir Malcolm Rifkind, has built up farming interests across Ukraine and Poland. Its first full-year results since joining Aim showed revenues increased by 19 per cent to €25 million (£20.9m) in 2011. Pre-tax profits dipped to €3.08m from €3.16m due to increased costs.

Forfar-based chief executive Laird said the company was well placed to make “further substantial progress”. In January it struck a sugar beet joint venture in Ukraine with commodities trader ED&F Man.