H&H Group has released its interim results for 2020 which show a positive outlook despite a turbulent year last year.
The firm's earnings before Interest, Tax, Depreciation and Amortisation amounted to £889,136 for the six months to 31 December 2019.
This resulted in a profit before tax of £302,000 against £154,000 for the corresponding period of turnover in 2018.
Turnover increased by over 5 percent from £6.8million to £7.3 million, H&H said.
Richard Rankin, chief executive of the firm, said that despite Brexit and the coronavirus, the first half of the year is showing a 'much-improved' profit position.
"We are expecting the second half to continue in a similar vein," Mr Rankin said.
"Given the current unprecedented context we find ourselves in currently, this is extremely encouraging news, and largely thanks to an extremely dedicated and resourceful team.”
The company's Farmstock Business has had a more positive year with £92 million worth of stock traded in the first six months, representing a 7.8% increase, with the sheep and dairy sector being particularly strong.
Cattle and sheep values in the autumn remained difficult but prices latterly have improved significantly particularly in the sheep sector.
Mr Rankin said: "The dairy sector has seen a rise in dispersals over the period, and we have also seen more pedigree beef and sheep reduction dispersals, all of which have attributed to our half year ending well ahead of budget.
"We are encouraged by these results, however, at the same time we are fully aware that there are a number of variables which are currently changing daily and may have a huge impact going forward."
H&H Group operates as a holding company with its five operating companies encompassing agricultural auctioneers, brokers and valuers, estate agents, auction rooms, commercial printers in addition to chartered surveyors and insurance.
