Big profit for Carr’s Milling

Apr 8 2008 by Peter McCusker, The Journal

AN agricultural food business has turned around its fortunes after seeing soaring grain and milk prices passed on to customers.

Carlisle-based Carr’s Milling group has seen sales rocket by almost 46% to £161.87m in the six months to March 1, 2008 , compared to the same period in 2006/2007.

Strong performance in the firm’s agricultural division has also resulted in a 45% increase in half year pre-tax profits from £3.57m to £5.17m.

The figures represent a big recovery for the firm, after sharp rises in crop prices saw its profits fall 17.1% to £6.1m in the year to September 1, 2007.

The firm, which employs around 750 staff and specialises in the production of over 25 different types of flour, now believes it can go on to secure similar growth for the rest of the year, despite predicting slightly lower sales volumes over the next few months.