Caledonian Marts Ltd has hailed a strong first year of trading following its takeover by a trio of Stirlingshire farmers last year.
The company, which runs auction marts at Millhall in Stirling and Oban, was born last year when brothers John, Brian and Stephen Gilvear, whose farming and livestock dealing business is based at nearby Graystale Farm, Bannockburn, bought Caledonian Marts (Stirling) Ltd out of administration for an estimated £1.35million.
The Cally, as it is popularly known, was founded in 1962 as a farmer-owned business with around 3,000 shareholder members.
It landed in financial difficulty at the end of 2014, mainly due to a debtors’ book amounting to around £4million.
The Gilvear brothers now own the mart property at Millhall and the mart business, Caledonian Marts Ltd, rents the site from them.
Chief executive, John Kyle, said: “We have had a very successful year. Our figures reflect just how busy we have been and I am delighted to say that they are a fair bit higher than our predictions.
“Thanks to the loyalty of our staff and particularly the support of our customers, Caledonian Marts Ltd has gone from strength to strength in our first year of operation.”
He said the company had posted a turnover of more than £1.3million and a pre-tax profit of £113,000 for the year.
“The profit figure could actually have been higher, however we took the decision to invest heavily in much needed improvements at Millhall for customers and for livestock,” added Mr Kyle.
“As well as a new board of directors, new staff members have joined our team, including a finance manager, sales administration manager and a new sales administrator.”
Improvements to Millhall include the creation of concrete-floored metal pens for sheep, replacing the previous wooden pens with earth bottoms, and the erection of a new general purpose shed to provide a covered area for implements and other sales. The livestock centre has also benefited from extensive rewiring and work to improve its parking areas.
Mr Kyle said catering facilities at the mart in Stirling had also been improved after a new agreement was formed with Jintz Express #3, and property services were now available to customers through Baird Lumsden.
He said the company was also benefiting from a partnership with the Royal Bank of Scotland, which provided a one-off sponsorship of £500 for yesterday’s premier show and sale of calves for future exhibition.
Mart chairman Niall Bowser, who farms in Doune, said: “The whole team at Caledonian Marts Ltd has done exceptionally well in the first year of trading. Staff members have shown great loyalty and dug deep to get the new company established. Farmers in Scotland are fortunate to have two markets at their disposal whether in Stirling or in the west, so we look forward to their continued loyal support and that of new customers in time to come.
“I am delighted that we can post such a positive first year result and I am confident that we can maintain this momentum”