Puffin Produce has posted a significant increase in turnover and pre-tax profits for the most recent financial year.

For the year ending 30 June 2013, the Pembrokeshire-based company's turnover was up from £9.1 million during the same period in 2012 to £12.4 million.

Pre-tax profits, meanwhile, were recorded as being £604,000 for the year ending 30 June 2013, rising from £371,000 the previous year, according to figures from Companies House.

The growers' co-operative supplies Asda, M&S, Tesco and Waitrose stores throughout Wales with popular potato varieties all year round, together with daffodils, leeks, cauliflower, broccoli and cabbage when in season.

Richard Hayman, a director at Puffin Produce, said: 'Although the company packed and sold similar volumes to the previous year, higher market prices for potatoes driven by a higher-priced raw material season resulted in an increase in annual turnover of 35 per cent on a like-for-like annual basis.

'These conditions resulted from normal annual fluctuations in the marketplace. The company has a team of talented individuals with experience of operating in the fresh produce market who are skilled at mitigating these risks.

'The directors are reviewing opportunities for future business expansion, and the company's strong financial position with low borrowings and stable cash flow places it in a strong position for the future.'

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