Scottish grain merchant W.N. Lindsay enjoyed a boost in profit and turnover last year.
The company, which has grain stores in Keith, Stracathro near Brechin, and Tranent in East Lothian, posted a 26% increase in pre-tax profits to £1.477 million for the year ended May 31 2019.
The accounts, filed with Companies House, also reveal a 15% increase in turnover to £113.478m, from £98.16m the year before.
In a report accompanying the accounts, the company said that 2018/19 had been a year where the weather had a major impact on crop production. “The hot weather in July across Europe led to sharply rising prices, reduced yields and varying quality,” it said.
“The demand from the whisky industry remained strong and malting barley prices were at historically high levels leading to higher stock prices.
“Smaller yields meant less trading opportunities from farm during the winter but feeding demand was strong.”
The company, which employed an average of 56 people during the year, said it was “well placed to take advantage of any opportunities in the sector”.
On future developments, the company said: “Brexit uncertainty continues to impact the agricultural sector and our consumer customer base, alongside challenges from the changing weather patterns.
“The group remains committed to investing in the sector and looking for opportunities to expand our market.”
The accounts also reveal that the highest-paid unnamed director took home a pay cheque of £282,263 last year.
This is down from £329,089 the year before.