TOM SCOTT brushed off CI Traders’ £202m. year-end debt yesterday. The company’s executive chairman faced several difficult questions from shareholders at its fourth annual general meeting.

When asked about the debt, Mr Scott said high gearing was typical of property-development companies. He added that this figure would be halved through sales of the B&Q site, two flagship office blocks and a set of residential flats.

With issues ranging from the sale of local milk to corporate public relations, Mr Scott admitted he was getting ‘a bit warm’ towards the end.

Up to 200 shareholders were present and one said she thought the company’s PR had been ‘pretty disastrous’ over the last year. Mr Scott agreed that work needed to be done and expected an improvement by next year’s AGM.

‘We, and I in particular, have had a run of bad publicity,’ he said afterwards.

‘People who know me wouldn’t want to do business with me based on what they’ve read.’

Having appointed a new PR team, Mr Scott said he intended to promote himself more as a person.

‘I’ve been here in Guernsey for nearly 20 years now. I think people on the island should know me a bit more.’

A local dairy farmer asked the chairman whether the company was likely to start importing foreign milk.

‘We would be one of the last not to sell local produce,’ he replied.

‘It would be criminal not to have Guernsey or Jersey cows in the islands.’

But he said he would also have to consider his customers and competitors when making decisions about imports.

Another shareholder questioned the freshness of some Checkers and Safeway produce, to which Mr Scott replied: ‘I would have to disagree with you.’

Chief executive Martin Bralsford acknowledged that there had been some difficulties.

‘The company simply isn’t big enough to deal directly with non-local growers and producers,’ he said.

‘It’s very difficult to get hold of class-one fruit and vegetables these days.’

Mr Bralsford said the company was dealing with this issue through the creation of stronger ties with Waitrose in the UK.

Regarding property matters, Mr Scott said the next major site for redevelopment would be 110,000sq. ft of warehouse space at Admiral Park and he confirmed that plans had been submitted to redevelop the Guernsey Brewery site as a hotel with a rooftop restaurant.

St Pierre Park Hotel was also due to be refurbished, he said.

Overall, Mr Scott thought it had been a good AGM and added that the company would continue to strive in all areas over the next year. ‘We are trying to give our customers more choice from CI Traders,’ he said.