Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner. Facebook Messenger An icon of the facebook messenger app logo. Facebook An icon of a facebook f logo. Facebook Messenger An icon of the Twitter app logo. LinkedIn An icon of the LinkedIn logo. WhatsApp Messenger An icon of the Whatsapp messenger app logo. Email An icon of an mail envelope. Copy link A decentered black square over a white square.

Agronomy group hit by £7m restructuring costs

A reminder about safety has been issued.
A reminder about safety has been issued.

One of Britain’s biggest arable businesses plunged into the red last year despite a boost in turnover.

Agronomy group Masstock Arable, which trades as Agrii, reported a pre-tax loss of £2.031million for the year ended July 31, 2017.

This is down from pre-tax profits of £5.222million the year before, and £6.997million in the year to July 31, 2015.

Accounts filed with Companies House reveal that the firm, which sells crop protection products and provides agronomy advice, enjoyed an increase in turnover to £297.036million, from £290.034million previously.

In his report accompanying the accounts, the company’s chief financial officer, Spencer Evans, said the firm showed improved performance for the financial year with strong autumn conditions and a favourable spring.

“Both seed and chemical sales benefited from these conditions and the continued benefit of the company’s integrated agronomy model,” he added. “Masstock Arable (UK) Limited continued to strengthen its combined agronomy offerings through continued investment in research and development and key focus areas such as value-added applications that incorporate nutrient mapping, high-specification seed advice and varietal selection, precision applications and variable rate input prescriptions.”

He said the firm incurred exceptional costs of £7.3million in the year due to termination payments arising from a restructuring programme. The accounts also reveal that the highest-paid director at the firm, which employed an average of 667 people in the year, took home a pay cheque of £953,000 in the year – up from £313,000 the year before.

Agrii’s Scottish operations include bases at Arbroath, Croy, Forfar, Inverurie, Turriff and Perth.