Agricultural Trading Group produce pre-tax profits of 6%

Farm inputs co-operative Agricultural Central Trading  has announced pre-tax profits of £933,000, a rise of 6% on the year.

Accounts for the year ending 30 June show turnover reached £65m, up from £59m in 2005.

The increase in profits means ACT members will benefit from a total bonus pot of £434,500. All 5000 trading shareholders will receive 0.7% return on their turnover with ACT, in line with the last trading year.

But an extra turnover bonus of £125,000 will be shared between members who committed early fertiliser requirements through ACT’s Action Fertiliser early-order scheme.

Chief executive John Hamilton said higher fertiliser and fuel prices had contributed to the increased turnover, while tight cost control had helped ACT maintain profitability in a “difficult” market.