Farm and fortune as Scruton secures new funding package

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WHEN Joseph Scruton established his foundry in 1896, rural life moved at the pace of a horse plough.

Today, the business he founded is still owned by the Scruton family, and is on course to see its turnover rise as farmers prepare to harvest the green shoots of recovery.

The company, which is now called Wilfred Scruton, has become an agricultural machinery and equipment dealership. It will use a seven- figure finance package from HSBC’s North Yorkshire Commercial team to help it grow.

It plans to increase its stockholding of JCB machinery and Valtra tractors, as well as revamping its parts department to stock a wider range of products. Wilfred Scruton operates from two sites, based in Foxholes and Riccall in North Yorkshire, and employs 43 people. Turnover has nearly doubled since 2009, from £12.1m to £22.5m this year, and the company is targeting a further increase to £24.5m next year.

It sells agriculture machinery and equipment across the UK and overseas, with 15 per cent of used sales generated from customers in Poland, the Czech Republic, France, South Africa and the Republic of Ireland.

Managing director Ian Scruton said: “After enduring a quiet first three months of the year, the rest of 2013 has been very busy and we have generated the same level of sales as the whole of 2012 in nine months.

“Confidence is increasing in the agriculture sector.”