THE H&H Group has announced an operating profit of £940,000 in the year ending June 30, 2018 – similar to the previous year's £965,000.

Net assets grew by £582,000 to £18.3m and a final dividend of 27p per share has been recommended, making a total dividend of 39p for the full year.

Richard Rankin, chief executive, said the Group had performed well, despite continuing economic uncertainty.

He said: "Every business, with the exception of the land agency, has repeated or exceeded the prior year's results. Given the wider economic challenges, this can only be viewed as a strong set of results which justifies our strategy to broaden the range of services and value we can deliver to our customers."

Harrison and Hetherington , the livestock and marketing division, saw continued growth and trading more than £178m of livestock.

Mr Rankin said it could be attributed to rising numbers of livestock and significant one off sales and events. He said: "As the UK's leading livestock company, our aim is to further develop the range of livestock trading opportunities we offer and increase the level of service we deliver. We are also now looking at further development and investment in our existing sites."

He said H&H Land and Property, the land agency business, had seen strong performances in the Durham, Kendal and Newton St Boswell operations.

"However," he said, "the uncertainty created by Brexit, with many farmers delaying big decisions and investment, coupled with fewer farms coming to market, have had an effect on the results.

"To take the business forward through what are both interesting and uncertain times for the agricultural industry, leadership in this division has been strengthened, and our competitive position in the north and the Scottish Borders enhanced."

Mr Rankin said their focus on the agricultural and rural sectors had paid dividends for H&H Insurance Brokers and it had won the national "Marketing and Customer Engagement" award at the recent UK Broker Awards.

The Group's estate agency business had held market share and H&H Reeds Printers had delivered a positive contribution.

Mr Rankin said the £5m development of its Rosehill site was almost complete and would deliver long-term return on the investment and deliver economic growth to the area.

"As Brexit looms and the uncertainty and speculation reaches fever pitch, our strategy across all of our businesses is to continue to focus on those things we can control and influence, and be there for our customers when it matters."