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Macphie warns of tough 2008

first_imgScottish ingredients supplier Macphie of Glenbervie has predicted a tough road ahead despite record profits last year.The company’s pre-tax profit for 2007 was up 12% to £3.8m and sales increased by 2%, according to accounts lodged with Companies House. However, chief executive, Alastair Macphie, forecast a much less cheerful 2008.He said: “A spate of poor harvests and changing global demand for commodities means that raw material costs have soared to a record high and this is hitting the food industry.”These pressures looked set to continue industry wide, he said. “Production volumes have grown but selling price deflation in certain sectors remains a key feature of the market.”last_img read more