The group made an operating loss of £680,000 after a profit of £4.76 million the previous year, despite a 13% rise in revenues to £89.7m, and a pre-tax loss of £1.24m (£4.1m profit).
Produce, which has one of its three Greenvale potato packing sites at Duns, halved its final dividend last year, but the interim payout is maintained at 1.82p. The shares, listed at 185p in late 2010, were unchanged at 139p. Angus Armstrong, chief executive, said: "The well-documented adverse wet weather throughout most parts of the UK in 2012 had a significant impact on the potato crop for the year, resulting in the lowest yielding and poorest quality crops since 1976. As a consequence of this low yield and high waste crop, free-buy prices for potatoes are exceptionally high and additional imported tonnages are being sourced to fulfil UK market requirements."