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Calder Millerfield sees profit levels recover

CALDER Millerfield, the Glasgow-based meat processing company, saw profits recover towards 2011 levels last year while turnover continued to climb.

The company, founded in Dalmarnock in 1961, is committed to using only Scotch beef, the rising price of which along with soaring energy costs had impacted the 2012 results.

But last year saw operating profit rebound from £70,934 to £116,197, while pre-tax profit jumped from £80,115 to £132,025, all from continuing activities.

Turnover meanwhile added to its 10% uplift in 2012 with a further 6% rise to £6.85 million.

Calder Millerfield supplies products such as sausages, black pudding and steak pies to retailer the Cooperative.

But about two-thirds of turnover comes from the chip shop sector where the it provides sausages, pies and other meat products.

In the year to October 31, Calder Millerfield, mainly focused on Scotland but with some customers in the north-east of England, maintained its healthy net cash position at a marginally higher £1.45m. Average monthly staff numbers were unchanged at 98. Directors' remuneration nudged up from £493,321 to £499,840, with that of the highest paid, assumed to be chairman Alex Kyle, easing from £113,632 to £111,145. There was also a pension contribution of £19,848 (£19,908).

Calder Millerfield returned to capital expenditure last year, investing £196,035 against £1,230 the previous year. There was a net funds inflow of £235,495, up from £151,521, but no dividend was paid to the family shareholders. Shareholder funds edged up from £3.18m to £3.27m. It made charitable donations during the year of £250.

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