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Knowsley glass firm reports solid year

Post Time:Nov 03,2011Classify:Industry NewsView:288

 

MERSEYSIDE double glazing firm Total Glass Holdings saw sales rise but profits fall in the year to January, 2011.

 

According to accounts filed at Companies House recently, the Knowsley-based family-owned business recorded sales of £12.1m, up slightly from £11.9m in the previous year.

 

However, rising costs of sales meant that operating profits came in at a whisker under £4m, compared to £4.2m a year earlier.

 

Pre-tax profits were £362,000 in the year, versus £411,000 previously.

 

Founded by Frank Deary in 1982, Total branched out into aluminium frames three years ago


The director’s report states: “It has been a solid year for the group, in what has been a difficult year for the building industry.

 

“PVCu operations continue to do well with a number of substantial contracts being won on the commercial side of the business. Our aluminium operation has seen growth throughout the year, and our investment in new plant and machinery has helped us secure a strong order book for the next financial year.”

 

Looking ahead, the directors add: “The company is in a strong position for 2011/12, and expects steady profits in what is once again predicted to be a difficult year for the economy.”

 

The balance sheet shows that, while stocks have risen by more than £350,000 to top £1m at the year- end, cash at the bank is also up by £200,000, to more than £800,000. At the year end, Total Glass had short term bank loans and overdrafts of almost £1.2m, while longer term hire purchase and bank Total Glass employs 130 staff. Managing director Paul Ierston died earlier this year.debts totalled £260,000.BILL GLEESON

 

Source: http://www.usgnn.comAuthor: shangyi

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