Carr’s Milling Industries, the Cumbrian-based agriculture, food and engineering firm, has seen a 45% rise in half-year profits.
Profits for the 26 weeks ending 1 March jumped to £5.17 million, up from £3.57m in 2006. Carr’s revenue increased by 46% to £162m and adjusted operating profits rose 41% to £6.43m.
Meanwhile, the company’s flour milling operations saw profits climb 21% to £1.11m on revenue growth of 58% to £39.7m, due to two flour price increases and a cost reduction plan.
Carr’s Milling Industries chairman Richard Inglewood said food price inflation had enabled it to recoup much of the lost margin in its food business.