Grain trader Grainco reports profits fall

Farmer-controlled grain trader Grainco has announced pre-tax profits of £185,000 on a turnover of £83 million.

The figure was lower than the previous year, when the company netted profits of £344,000.

But Edward Rust, Grainco director, said the board was pleased with results.

“A major computer investment was made during the year which affected profits but will deliver long term benefits to the business.”