Sentry in sell off
Sentry in sell off
SENTRY Farming Group is to sell its farm business, Sentry Farming Limited, to management in the face of mounting losses which make it unable to provide shareholders with an acceptable return on capital.
Four directors, Andrew Mason, Mark Andreae, Steve Farrer and Trevor Atkinson, are forming a new company, which, says Mr Mason, will retain staff and honour existing contracts in the UK and management agreements in Eastern Europe.
The group is also selling 215ha (533 acres) of mainly Grade 2 and 3 arable land and buildings at Willisham, Ipswich, guided at £1.8m for the whole.
At the end of the last financial year the group had a pre-tax trading loss of more than £1m, and in the past six months losses have risen to £1.42m. *