Scotland’s largest egg producer has hailed a successful year with profits up nearly 5%.
Glenrath Farms, which is based in Peebles and owned by the Campbell family, posted pre-tax profits of £7.826million for the year ended May 31, 2015, up from £7.488million the year before.
According to accounts filed with Companies House, turnover was down 3.5% to £52.34million, from £54.262million the year before.
In his report accompanying the accounts, company founder John Campbell said the results had been achieved despite the loss of a substantial order from one of the firm’s largest customers.
“In the circumstance the wholesale market has been very good. Clearly the UK egg market has been in short supply, however we are aware that there is major expansion within the industry which will have serious effect on the market going forward,” said Mr Campbell.
“Customer demand dictates our investment strategy and expansion plans. The reduction in demand for caged eggs means that our investment plans are now more focused towards production of free-range and barn product and we do not anticipate any further material investment in colony production. We are in the process of converting cage production to barn production.”
He said the company was committed to the agricultural sector and had invested more than £66million in land and food production facilities since 2000.
“It is these investments that allows us to continue developing and expanding our state-of-the-art production facilities and also to expand into new associated areas,” added Mr Campbell.
“For example, we now have planning consent for a wind turbine development and are currently assessing the feasibility of a hydro electric development on one farm. We intend to use these farms to continue expanding our free-range production.”
The accounts also reveal that the company, which employed 211 people in the year including 18 direct members of the Campbell family, paid its highest-paid director £155,088. This was up from a pay cheque of £153,500 the year before.
The company produces a range of different eggs including Kitty Campbell’s Free Range Eggs and Big and Scottish.