Company Reports & Accounts
By Roger Dean
John Thompson & Sons Ltd This company filed its full accounts made up to 31 July 2017 on 24 April 2018. The company’s principal activity is the manufacture and sale of compound feed. It also sells and distributes fertilizer. In the twelve months under review, the company reported sales
of £205.2 million, compared with £183.9 million during the equivalent period twelve months earlier, an increase of £21.3 million or 11.6 per cent. The Cost of Sales increased by £10.71 million to £193.49 million, an increase of £19.71 million, resulting in a Gross Margin of 5.7 per cent, compared with 5.5 per cent during the preceding twelve months and its best level for a decade. At £6.47 million, indirect costs were significantly higher than during
the previous year; this appears largely to reflect higher administrative costs compared to those incurred in the previous twelve months. However, operating profits as a proportion of sales, at 2.6 per cent during the period under review, were only slightly down on the previous year and were at their second highest for a decade. Pre-tax profits in the twelve months, at £4.71 million, were £81,000 or 1.8 per cent ahead of the previous year’s result. However, the
H.J. Lea Oakes Ltd The company filed its full accounts for the twelve months ending 31 August 2017 on 1 May 2018. The principal activity of the company in the year under review was that of agricultural merchanting and distribution. The company reported sales during the period under review
amounting to £91.9 million, an increase of almost £15.5 million or 20.2 per cent compared to the preceding twelve months. After deducting the cost of sales for the period under review, Gross Profit amounted to £9.16 million, equivalent to a Gross Profit ratio of almost 10 per cent, slightly less than during the preceding two years. This reflects the highly competitive nature of the market in which the company operates, ‘with the volatility of commodity prices including currency market movements which impact on raw material prices on a daily basis’. As regards indirect costs, distribution costs rose by £695,000
compared with the preceding twelve months, an increase of 10.1 per cent while administrative expenses rose by £184,000 or 11.9 per cent. The cumulative impact of increased costs of sales together with indirect costs was a decrease in the company’s operating profit from £261,000 to £245,000, a decline of £16,000 or 6.3 per cent. Taking into account
company’s pre-tax profit ratio, at 2.3 per cent, was slightly less than the 2.5 per cent recorded during the preceding twelve months. Nevertheless, other than the previous year’s outcome, the company’s pre-tax profit ratio was at a seven year high. The ultimate parent undertaking and controlling party of the
company is W & R Barnett Ltd, a company incorporated in Northern Ireland.
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