Profits are up at Scots animal feed firm Davidsons Animal Feeds despite a drop in turnover.
According to accounts filed with Companies House, turnover at the Shotts-based firm was down 11.7% in the year ended July 31 to £25.945million, from £25.390million previously.
Pre-tax profits were up to £403,456, from £389,553. This follows a 63% rise in profits the year before.
In his director’s report, Billy Davidson, said: “As reported in the previous year, our industry continues to experience significant volatility caused by fluctuations in raw material prices and currency markets. Despite this, we have continued to increase market share in a competitive marketplace.”
The accounts also reveal that pay for the two directors – Billy Davidson and his son William – was £49,915, compared with £70,931 the year before. The company, which employed 64 staff in the year, delivers ruminant feed across Scotland.