Agricultural machinery firm reports increase in profits and turnover

accounts: HRN Tractors’ operations include Perthshire depot

John Deere dealer HRN Tractors enjoyed a boost in profits and turnover last year.

Accounts filed with Companies House reveal the company posted pre-tax profits of £607,440 for the year ended September 30 2016.

This is up 25% on the year before when pre-tax profits stood at £486,098.

Turnover at the company, which has bases at Balbeggie in Perthshire, Insch, Turriff, Kinloss, Muir of Ord and Wick, was also up in the year by 10% to £28.1 million, from £25.5m in the year before.

In the accounts, managing director Neil Barclay said: “The company’s trading performance during the year was consistent with the director’s expectations given the improved trading conditions in the industry from the prior year which were exceptionally difficult.

“Gross margin remains consistent with the director’s expectations largely due to the sales mix achieved in the year and the company continuing to keep overhead expenses under tight control, with close monitoring of key areas throughout the business being fundamental to its success.”

The accounts depict a similar picture to trading improvements being experienced by other farm machinery dealers in the region.

Last week, Sellars Agriculture revealed a boost in profits for the year ended September 30 2016.

The Oldmeldrum-based firm, which is one of the main Claas dealerships in Scotland, recorded pre-tax profits of £121,152 for the year.

This is up from pre-tax profits of £9,212 the year before.

Turnover at the firm, which also has bases at Cupar, Perth, Letham, Forres and Huntly, was down 13% to £23.7m, from £27.4m previously.

Gross margins remain consistent with the director’s expectations ... NEIL BARCLAY