Profits and turnover tumble at farm machinery dealer Ravenhill

Farm, construction and groundcare machinery dealer Ravenhill Ltd plunged further into the red last year.

Accounts filed with Companies House reveal the company, which has depots in Aberdeen, Dingwall, Elgin, Maud, and Turriff, posted pre-tax losses of £416,878 for the year ended December 31, 2016. This is up from pre-tax losses of £385,932 the year before.

The firm, which specialises in New Holland, Kuhn, Kubota and Merlo machinery, also experienced a 7% drop in turnover to £34.013million.

In a report accompanying the accounts the firm said: “Market conditions affecting the company continued to be challenging during the year. Demand was impacted by the poor agricultural economy in the previous year and continued uncertainty in the wider economy.”

During the year the company decided to focus its activity in the north-east and dispose of its branches in the West Midlands.

This resulted in exceptional closure costs of £1.948million.