16 July 1999

NMR profits higher

NMR, the dairy management information provider, made a net profit of £441,000 in the year ending March 1999, an increase of 123% on the previous 12 months.

Shareholders, mostly farmers, saw share value rise 30p on the year to 100p. The gain is mainly due to improved cost efficiency in the recording business through new technology and staff cuts, though new initiatives including Software Solutions, aimed at the agribusiness sector, also helped, says the firm.

Turnover rose just 4% to £17.6m. While earnings a share have risen to 3.2p, NMR has chosen not to pay a dividend, preferring to retain the profit for further investment.

"The company continues to strengthen its position as a leading information and service provider, using its IT and technical skills," says chief executive, Robin Turner. &#42