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...
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."