22 October 1999
Central Farmers optimistic

FIFE-BASED supply and grain trading co-op Central Farmers maintains it is on the road to recovery despite a chequered financial report for the year.

Losses totalled £475,000 this time around — against last years £533,000.

Bank loans and overdrafts showed a marginal improvement, amounting to just over £1m, just £60,000 short of last.

But cash reserves dipped to £168,800, from a previous £644,000.

Jeremy Saunders, managing director said in the last six months of the financial year, trading performance had improved by £100,000 on the previous year.

Restructuring was paying dividends in reduced operating costs and improved competitiveness.

He claimed that with the reduced cost base Central Farmers could now provide goods and services to customers at lower prices.

It has formed an alliance with the Newcastle-base co-operative GrainCo to market feed wheat and barley.

It is also seeking a partnership arrangement to allow it to give the same service to malting barley.