Harbo benefits from freezing winter

Turriff-based animal feed supplier, Harbro, 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."

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