The Courier & Advertiser (Perth and Perthshire Edition)
Fife flour mill producing further savings for Carr’s
Conglomerate on track to hit full-year targets
Agriculture, food and engineering conglomerate Carr’s Group said it was confident of hitting full-year financial targets yesterday due to its strength in depth.
The firm said its wide “geographical footprint” meant it was exposed to differing trading conditions within a mix of markets.
Carr’s food division includes its modernised flour mill at Kirkcaldy, a place that was transformed by a £17 million investment in 2013.
The Carlisle-headquartered company said the mill had brought in new custom.
“The group’s food division, operating from three strategically-located sites around the UK, continues to perform well with volumes ahead of last year,” the firm said yesterday.
“The state-of-the-art flour mill in Kirkcaldy has generated further efficiencies, cementing Carr’s reputation for quality, service and technical expertise, resulting in several new customers being won across the division.”
The retail market in which the division operates remains challenging, with the multiples rationalising their sliced bread offering and consumer shopping habits continuing to change.
“However, previous investment in the division’s infrastructure ensures that Carr’s remains well placed to adapt to changing retailer requirements and consumer demands.”
Carr’s said its agriculture division had seen global sales of feed blocks increase year-on-year, including in the UK where the market was “tough” and the milk price was impacting on dairy farms.
Retail sales were also ahead of board expectations and the firm said the acquisition of Scottish agri supplies firm Reid & Robertson last month had bolstered its retail estate.
In February, the firm revealed a pre-tax profit for the last financial year of £16.6m, a 7.8% increase.
Chief executive Tim Davies said the group was on track to hit its financial aims for the full year to August 29.
“Despite Carr’s continuing to operate in mixed market conditions, we remain confident that the group will meet the board’s expectations for the full year.
“This confidence is due to the breadth of the group’s geographical footprint and its ongoing commitment to, and investment in, assets and innovation.”