Carr's Milling profits from Scottish expansion
UK-based feed manufacturer Carr's Milling Industries said that expansion of its operations in Scotland had helped drive strong profits growth.
The Carlisle-based company, which owns fertiliser manufacturing and fuel operations in Scotland, saw its pre-tax profits rise with 27.4% to £9 million in the year ending 31 August.
Group sales slipped 1.7% to £344m due to over-capacity in the milling industry and a sharp rise in wheat prices.
However, the firm's engineering operation profited from the first full-year from German robotics firm Walischmiller, which was acquired in March 2009.
Chief executive Chris Holmes explained that the 27% rise reflected strong sales of animal feed in the US and the positive impact made by the acquisitions of Northumberland-based feed supplier Forsyths, AC Burn and Scotmin Nutrition.
Animal feed supplements business Scotmin, based in Ayr, and agricultural merchant AC Burn which operates in Scotland, were bought for £5.62m.
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