Quinn’s of Baltinglass, the Wicklow-based agri-merchant privately owned by the Quinn family, has reported a 1.5% increase in pre-tax profits to €2.6m for its financial year to the end of June 2017. Accounts recently filed with the company’s office show the business had sales of just under €101m for the 12-month period, which was down more than 6% year on year.

However, operating profits in the business were maintained at just under €2.8m, as profit margins expanded from 2.6% to a healthy 2.8%.

Quinn’s agri-trading division accounted for the majority of turnover at €85m, while its feed manufacture and distribution business had a turnover of €12.9m. Quinn’s cereal and seed dressings business reported a turnover of €3.1m.

Quinn’s is one of the largest buyers of grain in the country, purchasing almost 200,000t every year. It produces over 50,000t of animal feed annually. Last year the company completed a €4m investment in a new pellet plant, which will allow it to chase a larger share of the 5m tonne animal feed market in Ireland.