Company update: Harbro

Increased sales and lower borrowing costs saw animal feed manufacturer, the Aberdeenshire-based Harbro Group, boost turnover and profits in the year to June 30, 2010.

 

Group turnover rose by £3 million to £68.1m (’80.8m) and pre-tax profits are £800,000 higher at £1.9m (€2.25m).

 

“Unlike other sectors of industry, the economic downturn has not had a detrimental effect on sales,” said managing director, Graham Baxter.

 

 “Our market share has increased and all companies within the group are showing strong performance.

 

“We have benefited from reduced interest rates and the policy the board has been following to reduce borrowings.”

 

Early February a Harbro worker was killed in a work accident. He was crushed by a load of animal feed at a feed mill in Inverness.