CHELSTON-based cheese and dairy products exporter Somerdale International increased its turnover last year – from £32.5m to £33.7m – despite the depreciation of sterling.

Its latest results demonstrate that it has continued to ‘deliver sustained growth and development with increased sales being achieved in all of its core export markets’.

Commenting on the performance, finance director Trevor Debenham, said: “This year’s results reflect Somerdale’s continued sales growth, complemented by the maintenance of gross margins.

“The results achieved during a particularly turbulent year stand as testimony to the strength and flexibility of the business.

“While our continuing commitment to investing in the capabilities of the business and in growing our presence in established and emerging markets leave us well positioned for the future.”

However, the company reports profit before tax is slightly down _ from £761,727 to £659,641,

In recognition of the ongoing growth of Somerdale’s international sales, the company was awarded the Queen’s Award for Enterprise in International Trade last year – the second time the firm has won the award.

The company’s annual report states: “Somerdale’s financial performance came against the backdrop of a highly volatile dairy and currency market. Trading conditions during the year saw rising commodity prices and the rapid depreciation of sterling against major currencies, which reversed some of the favourable trading conditions from recent years.”