Graham’s Dairy writes off £800,000 over failed property investment bid
Reading time: 1 minute
Major Scottish dairy firm Graham’s, which claims its milk and other products are sold to half the Scottish population, has been forced to write off more than £800,000 because of a failed property investment.
Sales for Graham’s The Family Dairy Group in the year to last March rose from £100m to £104m.
While costs rose significantly last year, from £14.9m to £16.7m, it was the hit taken as a result of a failed expansion plan that hit profits, which were only £373,000 - down from £1.3m the previous year.
Newly-filed Companies House accounts show that the Bridge of Allan-based family firm had chosen to write off £862,000 after failing to get planning permission for a major development.
The project would have expanded the firm from its Bridge of Allan base, near Stirling, including a new dairy and extensive house-building.
That would have required a re-zoning of undeveloped land on Airthrey Carse.
A long-awaited planning decision by the Scottish government ruled against it last year. This is being appealed through the Court of Session.
The dairy business employs 700 people and sells through 6000 wholesale customers.
Share this article:
Subscribe to our newsletter to not miss articles like this one:
SUBSCRIBE
