Operating Profit Up 15% At Stafford Lynch
Published on Sep 9 2014 6:10 AM in A-Brands
Operating profit at distributor Stafford Lynch has increased by 15% to stand at €1.5 million for the year to 31 March 2014, according to accounts just filed.
While turnover was down in the period to €34.8 million (down from €36.4 million a year earlier), due to reduced sales in Northern Ireland, the company's total profit after taxation and minority interests rose to €880k (2013: €751k).
In their report, the directors said that a "significant change during the year was the addition of a direct non-food van sales operation", which extended the business' sales coverage and customer service capabilities.
Distribution costs increased during the period, to €5.3 million (up from €4.7 million), however administrative expenses decreased to €2.2 million (down from €2.4 million).
Approximately 86% of the company's business is undertaken in the Republic of Ireland, with the remainder undertaken in Northern Ireland.
The directors added: "We manage a broad range of brands in a number of product categories and provide services to the key customer channels in the Irish market. We have broadened our business range and manage resource investment to achieve a minimum level of return.
"We continue to focus on cost control to ensure our sales growth will deliver the best return achievable."