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November 18, 2008

 

Carr's Milling revenue grows 47 percent
 
 

Carr's Milling, a UK food, engineering and agricultural company, has posted revenue growth of 47 percent to GBP 372.3 million (US$557.4 million) in the year to August 30.

 

Pre-tax profit rose 133 percent to GBP 12.9 million (US$19.3 million), while food operating profit increased 77 percent to GBP 2 million (US$3 million).

 

The food revenue growth of 50 percent to GBP 85.6 million (US$128.2 million) reflected the increase in wheat prices that started in late summer last year, said the company.

 

Many key raw materials in the UK more than doubled and fertiliser rose three to four-fold, said chairman Richard Inglewood.

 

Inglewood said the increases reflected growing demand from China and India for agricultural products, combined with low world commodity stocks and growth in bio-fuel production, after many years of static markets.

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