THE parent company of Scottish land owner and property firm Buccleuch has highlighted the effects of continuing political uncertainty on the economy as it reported an underlying loss of more than half a million pounds.
Buccleuch conceded trading had been challenging in its core agriculture, forestry, rural property and tourism markets, and cited slowing growth in the commercial property market, as it lost £592,000 in the year ended October 31. The business, ultimately owned by the Duke and Duchess of Buccleuch and family, had made an underlying profit of £200,000 the previous year.
Accounts for Buccleuch parent company The MDS Estates show that total comprehensive income of £14.4m for the period. However this figure has been boosted by items of £15.4m which would have been reported as gains under previous accounting standards. The total income posted by the firm in is 2015 accounts was £5.2m.
Writing in the latest accounts for MDS, chief executive John Glen lamented that the uncertainty which weighed on the economy when the company last reported has not lifted. “Last year’s report identified an environment where constitutional debate in Scotland and the UK was creating
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