Revenues break £600 million for the first time in the company's history
Frozen food retailer Farmfoods has reported a 43 per cent rise in pre-tax profits to £24.4 million for the 2011 financial year.
The Cumbernauld-based company said revenues rose by 4.5 per cent in the 2011 year to December 31, to £604.3 million compared with £578.7 million the previous year.
Last year Farmfoods reported a £90 million rise in annual revenues to break the £500 million sales barrier for the first time in its history.
Figures obtained from Companies House show Farmfoods almost halved its net debt last year, from £22.3 million at the 2010 year end to £11.5 million.
Pay to the top director, believed to be chairman Eric Herd, fell from £1.1 million last year to £508,000.
The group operates more than 300 stores and employs more than 3000 people.