The third annual report and accounts for the Agriculture & Horticulture Development Board (AHDB) show a substantially improved performance and cost savings.
“We are on track to deliver both an operating and retained surplus in 2011-12,” said AHDB CEO Tom Taylor. “Efficiencies achieved through improved systems resulted in 15p in every pound of income spent on corporate support costs in the year ending 31 March 2011, compared to 19p in the previous year.”
Since AHDB was established, its total income has fallen by some £7.9 million due to the loss of government grants and reduced commercial income from the Meat & Livestock Commercial Services business. Nevertheless, it has recorded an operating surplus of some £1.6m compared to £268,000 in 2009-10 and a retained deficit of £81,000, compared to £2.5m in 2009-10.
Bringing all the research bodies together under one umbrella organisation has brought the savings hoped for, Taylor added.
“We have strengthened our governance structures and internal control processes and continued to improve the ways we work together while retaining the focus and sector specialism of our six divisional delivery teams.”
