POTATO grower Bartlett International Holdings was hit by a 6.8% drop in turn-over to £132.7 million during a "challenging" year in the fresh produce market.
The Airdrie company's profits came in at £8.4m in the 12 months to May 31 this year, down slightly on the £8.6m the previous year.
The financial result was helped by a reduction in interest and financing payments from £1.1m to £624,307. Net debt was cut from £23.4m to £15.8m
In accounts filed at Companies House the performance was described as satisfactory given the testing economic conditions experienced throughout the year.
The directors' report said: "The core UK retail sector continues to be one of the most competitive in the global market, providing challenges for all involved in the supply chain."
The business – which has Albert Bartlett Rooster potatoes as its main brand – said a deal with Walmart in the US announced earlier this year had resulted in the first sales in November.
Further export markets are being looked at, according to the accounts.
The Scotty Brand arm – which also includes carrots, raspberries and strawberries with a focus on Scottish produce – was said to have performed well.
Barlett said it had continued to invest in its facilities but this was becoming more difficult as "trading conditions remain tough".
Average staff numbers dipped from 797 to 779 but employee costs increased from £17.5m to £19.8m. The accounts show Ronnie Bartlett was the only director to serve in the year and his emoluments rose from £786,796 to £966,389. There was a £1.4m dividend paid in the year.
The accounts state Mr Bartlett bought investment properties from the company for £1.4m, a further property for £226,007 and a motor vehicle for £72,000. He also received loan repayments of £733,731.
The business was founded in 1948 when Albert Bartlett set up a beetroot boiling company and remains under family ownership. Its television adverts in recent years have featured Dallas star Jesse Metcalfe and Desperate Housewives actress Marcia Cross.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article