Profit up for Mole Valley Farmers

Mole Valley Farmers’ profits grew by more than 6% last year, leaving a total dividend for farmer shareholders worth £450,000.

Financial results for the year ending 30 September 2009 show operating profits of £3.6m on £258m turnover.

The firm says it has seen strong performance across the entire portfolio from its SCATS Countrystores to its feed milling and processing divisions.

Retail sales at the company’s 28 outlets across the south of England have provided a particular boost, increasing revenue buy just under 6%, despite the general downturn in the retail sector.

Mole Valley says sales from its online store increased by 50% year-on-year, although this still represents a small proportion of total turnover.

For the 2008-2009 financial year, the feed business contributed nearly 40% of total turnover – a figure which looks set to increase following Mole Valley’s acquisition Three Counties Feeds, Tiverton, in October last year.

The deal brings in an extra 40,000t of blended feed sales and another 10,000t of compounds which is hoped to boost Mole Valley’s total turnover by £5-6m.

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