5 April 2002

Farmway in black

FARMWAY, the north-east based farmer co-operative, recorded a profit of £240,000 to the end of November 2001, compared with a loss of £450,000 the year before.

The company improved profits by cutting operating costs by about £1m and reducing interest payments by £35,000 to £95,000 in 2001. The co-op will reinvest £600,000 this year, but will close its farm machinery business. &#42