Lincolnshire Fields Products has a suffered a pre-tax loss and a drop in turnover, something the company has blamed on poor weather at both home and abroad.
According to accounts held on Companies House for the 52-week period ending 1 February, 2014, the firm posted a pre-tax loss of nearly £75k - down from a pre-tax profit of just under £944k the year before.
Turnover, meanwhile, fell from £90.2m in 2012/13, to £89.8m in the most recent financial period.
A spokesperson for Lincolnshire Field Products, which lists its principal activities of business as farming and its allied trades, said: 'The company operates in a highly competitive marketplace, but notwithstanding this, the average weekly turnover in the 52-week year was 99.9 per cent of that achieved in the previous year, with new business and activities coming on stream to replace those that are not continuing.
'Margins were reduced in the year in large part due to losses incurred on the trading of imported product in the early part of autumn 2013, as a result of weather-related supply issues in Spain, while our own crops suffered due to a cool wet summer and autumn that reduced yields and increased harvesting costs.
'The marketplace for fresh produce remains challenging, and retailers' desire to deal direct with suppliers will lead to a reduction in turnover on our imported product lines in 2014. However, with our major land bank in south Lincolnshire, highly-skilled workforce, and up-to-date equipment and facilities, the directors remain confident that the business will profitably remain in the forefront of arable crop production, with a continuing emphasis on brassicas.'
