SOUTHAMPTON-based Grainfarmers, the country's largest farmer-controlled arable business, has announced a £1m improvement in its interim results covering the first half of its 2002/3 marketing year.
Chairman Andrew Christie-Miller told shareholders at the firm's annual meeting held at Towcester Racecourse: "The Grainfarmers business has produced an unaudited interim profit before tax of £546,000 on turnover of £97.9m for the six months to December 31, an improvement of over £1m on the comparative period in the previous year in which a loss of £541,000 was incurred.
"Our volumes in the first half of the year are up 60 per cent at 1.1 million tonnes, reflecting not only organic growth in market share but also a return to a more normal UK cereal harvest with a 16 milliontonne wheat crop (previous year 11.6 million tonnes).
"Our international marketing alliance with Louis Dreyfus has benefited our export programme.
"Consequently the Grainfarmers Southampton export facility is enjoying a better year than the previous season."
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