Farmer-owned business Agricultural Central Trading has reported a 46% hike in operating profits for the year ending 30 June.

The farm inputs supplier increased turnover 8% to £107m, but saw profits rise to £2.8m despite “challenging” market conditions. Farmer shareholders will receive a turnover bonus of 1.5% this year, managing director John Hamilton said. ACT says it has returned £3.2m to shareholders in the past five years.