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Company Reports & Accounts


By Roger Dean


Harper’s Home Mix Ltd Companies House published the accounts for Harper’s Home Mix Ltd for the year ending 30 June 2017 on 5 April 2018. The company, is a 100 per cent subsidiary of Massey Bros (Feeds) Ltd, turned over £35.79 million in the trading period under review, £2.23 million or 6.6 per cent more than in the corresponding period a year earlier. After deducting the cost of goods sold, the company’s Gross Profit


amounted to 8.20 million, ahead of the previous year’s outcome by £737,000 or almost 9.9 per cent. The company’s Gross Profit ratio, at 22.9 per cent, compared with 22.2 per cent the previous year, was at its highest for six years. While the company’s distribution costs fell, administrative costs


rose by almost 579,000 or 11.3 per cent. When combined with direct costs, the ensuing operating profit rose by £196,572 or 38.8 per cent compared with the previous year. As a result, the Operating Profit ratio rose from 1.5 per cent in the year to 30 June 2016 to 2 per cent in the year under review, however, this was slightly lower than during the previous five year’s average. After interest payments are taken into account, the company’s profit


on ordinary activities before tax increased from £506,422 in the previous year to £699,369 during the year under review, an increase of 38.1 per cent. This resulted in an increase in the pre-tax profit ratio from 1.5 per cent in the previous year to 2 per cent in the twelve months ending 30 June 2017, the best result since an identical ratio was recorded in the 2014 financial year.


Davidson Brothers (Shotts) Ltd Companies House published the annual results of this company for the year ending 31 July 2017 on 3 January 2018. Total turnover for the period in question, at 28.42 million, was £2.48


million or 9.5 per cent more than in the equivalent period a year-earlier. After deducting costs of sales, the company’s Gross Profit increased by £2.05 million, an increase of almost 11 per cent. However, as a result, the company’s Gross Profit ratio fell from 28 per cent in the previous year to 27.1 per cent, although both these figures are higher than those that characterised the previous four years. Administration and distribution costs rose by a net £402,000 during


the period under review, an increase of 5.8 per cent. After miscellaneous operating incomes are taken into account, indirect costs rose by £412,000 or just over 6 per cent, leaving an operating profit of £431,000, £15,000 or 3.7 per cent more than in the previous twelve-month period. The operating profit ratio of 1.5 per cent was slightly lower than the 1.6 per cent recorded for the equivalent period a year-earlier but an improvement on the three years financial periods running from 2013 to 2015. After interest payable and income from investments is taken into


account, profit on ordinary activities before tax in the year under review amounted to £413, 604, £10,148 or 2.5 per cent more than in the


PAGE 22 MAY/JUNE 2018 FEED COMPOUNDER


corresponding period twelve months earlier. The pre-tax profit ratio, at 1.5 per cent was slightly lower than the 1.6 per cent achieved in the previous year but was at its second highest during the five years running between 2013 and 2017.


W.E Jameson & Son Ltd Companies House published the annual results of this company for the year ending 30 June 2017 on 26 March 2018. Total turnover for the period in question, at £15.41 million, was


£2.03 million ahead of the previous accounting period, an increase of 15.2 per cent. After deducting cost of sales, the company’s Gross Profit during the period under review amounted to £1.85 million, equivalent to a Gross Profit ratio (Gross Profit / Total Turnover) of 12 per cent, slightly lower than in the preceding financial year but higher than the company’s five-year average Gross Profit ratio of 11.1 per cent. After administrative and distribution costs, less other operating


income, are deducted from Gross Profit, operating profits of £376,209 were higher than in the preceding year by £80,079 or 27 per cent. As a result, the Operating Profit ratio of 2.4 per cent was higher than the preceding year’s figure of 2.1 per cent and compared favourably with the average 2 per cent over the preceding ten years. After receivable interest and similar charges are taken into account,


the company’s profits before tax during the year ending 30 June 2017 amounted to £381,526, £71, 083 more than in the preceding twelve months, an increase of almost 23 per cent. The pretax profit ratio, at 2.5 per cent, is an improvement on the previous year’s figure of 2.3 per cent but lower than in the two exceptional financial years of 2014 and 2015.


Bulldog Products Ltd The company describes its principal activity as the manufacturing and sale of food for wild birds, caged birds, fish and small animals. Companies House published the annual results for this company for the year ending 30 June 2017 on 6 April 2018. Total sales, at just over £18 million, were ahead of year-earlier,


by £1.94 million or 12.1 per cent. After deducting the cost of sales, the company’s Gross Profit, at almost £4.19 million, amounted to an increase of £854,357 or 25.6 per cent, suggesting that sale prices had increased substantially relative to the cost of sales. The Gross Profit ratio, which stood at 20.8 per cent in the year ending 30 June 2016, increased to 23.3 per cent in the year under review and was at its highest level for six years. There were significant increases in both administrative and


distribution costs, resulting in a year-on-year increase in indirect costs of £744,107 or a shade more than 24 per cent. However, as a result of the improved Gross Margin, operating profits increased over year- earlier levels by £110,250 or 43.6 per cent. This resulted in an increase in the Operating Profit ratio from the slightly disappointing outcome in the previous year of 1.6 per cent to 2 per cent in the year under review. However, the operating profit ratio in both 2016 and 2017 was significantly lower than in the three years 2013-15. After taking account of other charges and inflows, pre-tax profits in


the year under review rose by £92,383 to 363,517 or 34 per cent more than in the previous accounting year, representing a pre-tax profit ratio of 2 per cent, an improvement on the previous year’s 1.7 per cent but lower than some of the results achieved during the previous eight years available data.


Comment section is sponsored by Compound Feed Engineering Ltd www.cfegroup.com


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