Cornish dairy business AE Rodda & Son has reported a strong set of results for its last financial year.
The Scorrier-based company recorded sales of £38 million, up from £36 million a year earlier.
Operating profit before exceptional costs and other operating income came in at £1.877 million, while gross profit improved to 24.7% from 19.9%, reflecting, it said, “lower production costs, improved efficiencies and ongoing restructure savings”.
The statement added that “strong cash generation from the trading and settlement of an outstanding claim gave a good start to the year 2020/21, allowing financial headroom for the remainder of the year”.
Bank and asset finance were reduced during the year from £4.1 million to £1.7 million.