FARMFOODS has raised its annual pre-tax profits by nearly £1 million to more than £12m on the back of strong growth in turnover.

The frozen-food retailer, which is based at Cumbernauld near Glasgow and has shops throughout the UK, notched up turnover of £660.3 million in the year to December 29 last year. This was up by £17.6m on the prior 12 months. The family business raised its pre-tax profits to £12.1m in the year to December 29, from £11.12m in the previous 12 months.

Farmfoods’ average weekly number of employees in the year to December 29 was 3,864, the latest accounts filed at Companies House show. This is down slightly from 3,953 in the prior 12 months. Payroll costs rose to £68.8m in the year to December 29, from £68.1m in the prior 12 months.

The remuneration of the highest-paid director was £1.2m, unchanged from the prior financial year.

Farmfoods notes on its website that it has “served Great Britain” for more than 60 years, declaring: “From a butcher shop in Aberdeen, we have grown to more than 300 stores and four distribution centres nationwide.” It highlights its drive to deliver the “best value” on food and household essentials.

The company reduced its net borrowings from £21.2m to £13.2m during the year to December 29.

In its strategic report, signed by director Eric Herd, Farmfoods’ board says: “Trading conditions have been and are expected to remain competitive.”

Farmfoods invested £4.88m in freehold property and assets in the course of construction during the year to December 29. Such investment in the prior year totalled £1m.