A GLASSON Dock based business has helped its parent company to report increased revenues and profits - despite the effects of the recession.
Glasson Grain, the raw material and fertiliser trader, and J Hatton Agriculture, the animal health specialist, are both part of Wynnstay, the Welsh agricultural and specialist retailer which trades across the centre of the UK.
The group has just reported increased revenues and profits for the year ending October 2010. Significant increases in sales of feed, fertiliser and seed, combined with a 10% like for like revenue growth in its chain of country stores, contributed to a 13% increase in revenues and 14% increase in pre-tax profits.
Commenting on the results, Ken Greetham, Chief Executive, said: “It was a very pleasing performance that reflected the hard work of the employees within the Group.
“The agricultural industry has seen significant changes over the last few years. Grain prices have risen substantially over the past few months which is good news for the arable sector, however increased costs for livestock farmers challenges their profitability and requires an increase in farmgate prices to provide satisfactory returns.
“Nonetheless, long term trends are favourable for UK agriculture. The rising world population and need for renewable energy sources are both powerful underlying drivers which will help to support agriculture as an important UK industry.”
Glasson Grain, which operates from Glasson Dock, supplies a wide range of raw materials and associated products to the animal feed industry as well as added-value lines for agricultural merchants to supply to the smallholder and specialist animal feed sectors.
Glasson Grain also operates a fertiliser blending plant where it manufactures the “Top Crop” range of fertiliser which is sold throughout Wales and the West Midlands.