Prince Charles has announced record profits for his organic food business and a 50% increase in sales in the last year.

Duchy Originals, which was launched in 1990, now sells £14m (US$22.4m) a year in natural agricultural products.

Profits in the past year were £634,620, up 10% from the previous year, despite scepticism from many observers that the company would be successful.

Prince Charles does not take any income from the business, which turns its profits over to the Prince of Wales Charitable Foundation, formerly the Prince of Wales Charities Trust. Over the last three years, £1.5m has been contributed to the foundation by Duchy Originals, reported the Scotsman.