01 Oct Glasgow based Cefetra close in on billion-pound sales
Glasgow based Cefetra close in on billion-pound sales
Cefetra increase profits by 32%
Agriculture specialist Cefetra Ltd, headquartered in Glasgow, has announced financial statements for the 12-month period ended 31 December, 2018.
Key highlights for the 12-month period:
• Turnover/sales increased significantly by 15% to £991.9m (2018: £865.9)
• Sales volume (tonnes ‘000) increased by 6% to 4,330 (2018: 4,087)
• Operating profit advanced 32% to £5.9m (2018: £4.5m)
• Profits after taxation rose 29% to £3.6m (2018: 2.8m)
Andrew Mackay, managing director at Cefetra commented:
“These robust financial statements highlight what has been another successful year for Cefetra with growth achieved in both volumes and profit.
“We continue to receive excellent support from both our customers and our suppliers, enabling us to increase our delivered volumes to over 4.3m tonnes which helped us to deliver this satisfactory result for the period.
“We supplied a wide range of commodities including grains, oilseeds and oilcakes as well as other non-grain feed ingredients. Our ability to provide an independent view along with tailor-made efficient solutions for our customers has enhanced our position as the supply partner of choice in both the UK and Ireland. We are confident that we will continue to develop and build our business over the coming years.
“In July 2018, after 26 years, we transferred the majority of our activities from KGV Glasgow to Rosyth and Leith. We are pleased to have reached a long-term agreement with Forth Ports to provide us with increased, modern facilities. The Port has been deepened and new cargo handling equipment has been ordered to accommodate our larger vessels. A new purpose-built storage complex is also due for completion by the end of 2019.
“We have also reached an agreement with Associated British Ports to develop an import facility at the port of Ayr which will service our customers in the South West of Scotland.
“We believe that these developments will be a major benefit to the company and our customers providing excellent logistics hubs which are ideally suited to serve the needs of the Scottish market for the foreseeable future.
“In addition, we moved our head-office premises to Glasgow Airport Business Park as part of a long-term agreement.
“As previously announced in February 2018, Cefetra completed the acquisition of Premium Crops, a leading provider of premium and specialist crops based in Hampshire. It will be run as a division of Cefetra and enhances the scope of services and crops we offer.
“We have continued to invest in our systems and personnel to manage our growth and to enhance service levels to customers. Quality has remained at the forefront of our priorities during the year and we have continued to take an industry leading role in the supply of sustainable products.