Shropshire dairy machinery firm optimistic
Dairy machinery manufacturer Fullwood says it expects to be able to grow its business after an end to restrictions on milk production in Europe.
The company's accounts for last year show that it achieved an improved pre-tax profit of £1.5 million in 2014, and its revenue was only held back by unfavourable currency exchange rates. That was in the build-up to the company's takeover by Dutch machinery firm Verder Group this summer.
In a report the company, based in Ellesmere, said it expected to continue its growth on the back of the end of milk quotas in Europe – despite the problems faced by dairy farmers at present.
"The freedom to produce without penalty will undoubtedly allow even more farmers to plan for expansion regardless of current price constraints," said Richard Lancaster, the former chairman who has now sold his stake in the business.
