Search

Chinese-owned grain trader pushing ahead with plans to increase market share after recording rise in profit

Grain being loaded for export at Ipswich dock, operated by Nidera. Picture: Gregg Brown

Grain being loaded for export at Ipswich dock, operated by Nidera. Picture: Gregg Brown

Archant

A grain trader which was taken over by a Chinese conglomerate last year has reported a rise in annual profit, despite tough trading conditions and price volatility.

COFCO International UK – formerly Nidera UK – made a pre-tax profit of £337,822 in the 12 months to December 31, up from £319,075 in the previous 15-month period.

The EDP/EADT Top 100 firm’s latest accounts show turnover for the year totalled £323.9m, down from £361.1m in the 15 months prior.

Its strategic report said the Ipswich-based company had to content with increased market volatility through the year – due in part to the weakened pound – which resulted in “significant price movements”.

But the 118-strong firm is still planning to expand its geographical coverage to grow its share of the grain, seed and fertiliser market.

The directors’ report added that the “commitment and hard work of our staff” had been key to its performance.

Search hundreds of local jobs at Jobs24

Management Jobs

Show Job Lists

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Insight

Plans for an equestrian business in north norfolk were refused despite the applicant claiming it would create two jobs and boost the economy.

The battle to engage more girls in technical subjects is beginning to bear fruit – but leading figures in the industry in East Anglia say engagement and outreach will be key to bringing up the numbers.

Green 100

cover

Enjoy the Green 100
digital edition

Read

Meet the Team

Mark Shields

Business Editor

|

Chris Hill

Agricultural and Farming Editor

|

Business Most Read

Awards

Norfolk Future 50 EDP Business Awards Green 100