Crop research group's commercial arm sees turnover increase

STV
Crop research group's commercial arm sees turnover increase

A commercial subsidiary of the Scottish Crop Research Institute has seen its turnover increase by 25% in the year to March this year.

The news comes on the eve of the Royal Highland Show, the UK's premier agricultural show and Scotland's leading outdoor event.

Mylnefield Research Services Ltd, based at Invergowrie, has a staff of just 25 and a mission to transform SCRI's scientific research into innovative food products on the supermarket shelf.

Established in 1989, it has made a profit in every year of trading and in the last 10 years and channeled £2 million in charitable donations to SCRI and the Mylnefield Trust to boost plant breeding, research and education.

MRS partners include some of the biggest companies in the food and drink sector including GlaxoSmithKline, Greenvale AP, McCain, Pepsico, Marks & Spencer and Limagrain.

In 2009/10 MRS' operating profit was £353,000 compared with £256,000 the year before. Reserves after tax were strengthened by £174,000 to a total of £669,000.

The growth in MRS income was largely because of a 47% increase in contract research and a 30% increase in food and pharmaceutical services.

Profits were further boosted by royalty income from soft fruit, potatoes and brassicas.

MRS Managing Director, Dr Nigel Kerby, said: "Our financial performance was exceptional and reflects the excellence of SCRI's science and the quality of our enduring commercial partnerships.

"We look forward to future growth from the commercial opportunities in sustainable crop production research that will emanate from the merger of SCRI and the Macaulay Land Use Research Institute."