Comment – The Numbers Never Lie

I spent a little while perusing the last quarters results from a Farm machinery finance company. This was interesting reading.

With a current book of over £750 million of debt , and record growth in new loan origination, they have a dozen or so dealers in arrears amounting to just over £700k (less that 1% of their book) and a further 31 dealers with balances subject to legal recovery with loan balances of over £10m , which is about 1.4% of the total loan book.

This gives a reasonably healthy picture from one business in the machinery supply chain. When comparing the same companies stats from Q3 of ‘24 , there were 13 dealers subject to legal recovery,  with loan balances worth £4.5m. 

Interestingly their stock days (ie the time each item is financed) has dropped to 123 days from 142 days in ‘24 which in their own words is ‘well within sector tolerances’.  See the full story here.

I also came upon this recent analysis regarding how world trade is altering in reaction to Trumps tariffs, and spare a thought for the US farmers who are caught with no export trade for the majority of their soya and corn, plus crippling input prices. 

Closer to home there has been sad news that Chafer have posted a notice of intention to appoint administrators, see the full story here.

Elsewhere it was pleasing (and obvious) that sugar derived from sewage wasn’t for human consumption ,worth a read.

I’m looking forward to a quiet weekend, having hurtled off to London for a couple of days, attending the thoroughly enjoyable British Guild of Agricultural Journalists Harvest Festival and Luncheon on Fleet Street, whilst I’m not saying that I over indulged, I will say that I slept soundly, and had a wonderful time catching up with old friends!

Have a relaxing one.

Andy