The Courier & Advertiser (Fife Edition)
Auctioneer’s ‘progress’ in 150th year
The owner of Forfar Mart reported “progress on a number of fronts” as it marked its 150th anniversary as a trading company.
Newly published accounts show livestock auctioneer and valuer Lawrie & Symington generated sales of £3.58 million in the year to December 31, up on 2016’s £3.26m return.
However, pre-tax profits were significantly lower in the year, falling from £172,584 to £65,979.
Despite the drop, the group declared a two pence dividend per share and chairman Brian Dickie said the group was moving forward.
“Some of this progress is reflected already in the financial performance of the business, and some will show greater impact in 2018 and beyond,” Mr Dickie said in his report to the accounts.
“We continue to invest in the business to ensure we are keeping pace with the needs of our customers and we are investing in personnel and training which will deliver further benefits and smooth succession in the future.
“In financial terms the performance of the business year on year is relatively flat, but this does not yet reflect the benefits of the underlying business improvement achieved and in hand.”
The group, which also has a major operation in Lanark, said the year had brought an increase in the number of livestock passing through its sale rings and a rise in the number and quality of events held at its properties.
Mr Dickie also reported positive momentum seen within the group country supplies operation had spilled over into the first quarter of 2018, and the group’s farm business was seeing improvements.
The accounts also notes the business concluded the post year-end sale of premises it owned in Perth Street, Blairgowrie, in March this year.
The divestment came before the board’s final sign-off of the accounts in April.
The document also notes negotiations regarding the sale of development land in Peebles are continuing.
The group’s 150th anniversary was marked by a visit to the group’s Lanark auction house by the Princess Royal.