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08
Nov 2023
Ripon Farm Services celebrates record year with £161m turnover
Ripon Farm Services has recorded a significant increase in turnover and profit in its accounts for the year ending January 31, 2023.
The report, published on the Companies House website this week, reveals revenue increased by 22% from £132.5 million to £161.1 million.
Gross profit rose by 23% from £15 million to £18.5 million and operating profit went up from £2.4 million to £3.1 million.
The Ripon-based company, which was established in 1982, services and sells agricultural machinery from brands including John Deere, Kuhn, Bailey, Kramer and Stihl across 15 regional branches.
It is one of the district's largest and most visible companies, with a major presence at the Great Yorkshire Show each year.
Exhibiting at the Great Yorkshire Show.
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Ripon Farm Services, which employs 285 staff, also completed the construction of a 22,000 sq ft depot in Malton during the financial period, which was financed by an HSBC loan.
Directors attributed the company's success to outperforming the market and, subsequently, increasing market share, as well promoting “premium products with industry-leading customer service” and a “prestigious” brand portfolio.
The report added:
Ripon Farm Services also acquired FG Adamson & Son, a garden and ground-care machinery company, in March this year for around £2.4m.
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