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03
Nov
Operating loss increases at Ripon Farm Services
Ripon Farm Services saw its operating loss increase in the face of "significant headwinds" in the agricultural machinery market, according to its latest accounts.
The company, which has 13 branches and employs 337 people, published its accounts for the financial year ending January 31, 2025, last week.
They showed revenue fell by 7%, from £184.7 million to £171.6 million.
Operating loss increased by 157%, from £0.7 million to £1.8 million.
The report said:
The UK tractor and broader agricultural machinery market faced significant headwinds in 2024 and early 2025, driven by challenging weather, elevated input costs, low farmer confidence, and subdued commodity prices.
Farmers' lack of confidence was exacerbated due to the uncertainty and potential impact of UK national economic and agricultural policy, and global trading conditions. Triggering a significant drop in machinery/tractor orders.
It added that tractors hit their lowest registration levels in over 25 years but there were “encouraging signs” that the bottom of the market has been reached and improvements will be seen next year.
Ripon Farm Services' major partner John Deere has the largest market share in the UK and globally. The firm also works with manufacturers Kramer, Kuhn and Bailey Trailers.
The report said the company had "renewed our commercial focus" and aims to reach 40% of the tractor market share.
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