A Devon-based agricultural supply business founded 66 years ago has returned to profit after two "difficult" years. Mole Valley Farmers was established in 1960 by a group of farmers in South Molton who joined together to form an agricultural buying group.
The company, which now employs more than 1,700 staff and has 9,000 farmer shareholders, sells a range of goods including livestock feed, animal health products and pet supplies direct to farmers and the general public online and in its 48 stores.
In its latest set of results filed on Companies House, Mole Valley Farmers reported turnover of £555.7m for the year ended September 2025 - marginally down from £558.8m a year earlier. But the business returned to a group operating profit of £500,000 - an improvement of some £5.8m on the year before.
Strategic adjustments taking effect
"After two consecutive years of substantial losses, it is deeply encouraging to report a return to a modest level of operating profit," chief executive Jack Cordery said in a statement.
"This financial recovery, although only one step on a longer journey toward sustainable profitability, illustrates that the strategic adjustments implemented at every level of the organisation are taking effect."
Mr Cordery said a "rigorous focus" on cost control and operational efficiency had been central to Mole Valley's performance over the last year.
"Following a period in which inflationary pressures, labour cost increases and volatile commodity markets created considerable headwinds, we undertook a comprehensive review of expenditure and internal processes."
"Through tighter financial discipline, improved stock management and targeted productivity measures, we have successfully reduced our operating cost base whilst maintaining strong service standards for farmer shareholders and customers."
Cost reduction and investment plans
In its financial report, Mole Valley said it had reduced its operating costs by £3.7m in "a climate of increasing inflationary pressures." It added that greater working capital and debt reduction had also allowed the business to consider investment opportunities.
The company said it was looking to make "significant investments" over the financial year at its mills at Huntworth and Dorchester.
"We have seen a considerable turnaround from the previous year, despite plenty of headwinds," said chair Stephen Bones.
"We are clear that there is still much to do to ensure real business stability and resilience."
He added: "In the current budget year, we are seeing sales and revenue growth and a continued focus on cost of sales. The business is now more resilient, better able to withstand external pressures and well positioned to invest in areas that support long-term value creation."
Last year, Mole Valley Farmers agreed a deal with Plymouth port Cattedown Wharves, which saw it take over use of the quay-side storage facilities and collaborate to manage incoming cargoes.
