The Royal Highland and Agricultural Society of Scotland (RHASS) has reported a year of growth with total income in the year ended 30 November 2016 at £7.85m, an increase of £779k on the year (£7.07m in 2015).
The 11 per cent uplift is reflected in income generated from RHASS' land assets which generated £1.24m, a 30 per cent growth from the previous year (£954k in 2015).
RHASS' flagship event, The Royal Highland Show, delivered a third successive year of record revenue, generating £4.35m - up £284k on 2015.
Trading income, generated by the Society's wholly-owned subsidiary Highland Centre Ltd, raised £1.6m, a new high and an increase of £227k on the previous year.
Other key income streams include membership subscriptions which also enjoyed a healthy growth in numbers.
Expenditure increased by £1.34m to £7.67m (£6.33m in 2015), a figure which includes the write-off of £560k of historical development costs. Net income/Expenditure (Operating Surplus) stands at £262k.
This year has seen a significant increase in the value of Fixed Assets, with a corresponding reduction in Net Current Assets, reflecting a prudent reallocation of cash into the upgrading of the Royal Highland Centre site
*Meanwhile, the volume of fresh and frozen beef sold through GB retailers in the 12 weeks to 26 February was up almost 5 per cent on the same period during 2015/16, according to the latest data from Kantar Worldpanel.
The increase in sales was largely driven by a rise in frequency consumers bought beef over the 12-week period, as well as an increase in the number of consumers buying beef products. Adding to this the amount of beef consumers bought on each shopping trip was also up on the same period last year.
With the deflationary environment still present average prices were lower year-on-year. As such, in terms of overall value, this mitigated the increased purchases somewhat, but at £573m, spending on beef and veal in the 12-week period was still up almost 3 per cent on the year. It is likely that lower prices have had a positive influence on purchases of some cuts, as consumers will have been able to buy the same amount of beef while spending less. This is particularly relevant in the post-Christmas period when consumers tighten their wallets.
Market round-up
Wallets Marts sold 928 prime hoggs in Castle Douglas on Tuesday to a top of £97 per head and 241p per kg to average £75.41 and 175.4p (+6.8p on the week).
The 309 cast sheep forward were also dearer on the week with ewes selling to £103 for Texels, £80 for Mules and £63 for Blackfaces.
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