A specialist crop trader is reaping cash after it revealed pre-tax profits grew by 62% to $8 million (£5.2m)

In a record year for Maviga – which sources, processes and sells commodities like pulses and sesame seeds – sales grew by 21% to $300 million (£196.3m).

The Yalding-based company’s net cash flow stood at $7.5 million (£4.9m) while earnings per share increased 62% to $698.74 (£455.79) in the year to the end of March.

The company, founded in 1994, has offices and processing operations in 13 countries. It won the Queen’s Award for Enterprise, International Trade in 2003, 2009 and 2014.

The firm became a public limited company in January and sources more than 100 varieties of produce from more than 30 countries and ships it to over 80 markets around the globe.

“Our business performed well in all the geographies where we operate despite aggressive competition, weather related problems and volatile farm gate prices...” - Marcus Coles, Maviga

It extended its revolving credit facility with RBS earlier this year from $20m to $27.5m to give it more flexibilty as it expands the business, primarily into African markets.

Chief executive Marcus Coles said: “Our business performed well in all the geographies where we operate despite aggressive competition, weather related problems and volatile farm gate prices.”

Chief financial officer Andrew Cooke said: “As the company continues to grow, we remain focused on increasing shareholder returns.

“A significant sign of our strength and capital stability is our overall net cash inflow of $7.5m, which contrasts markedly with some of our competitors.”