Halewood takes £10m divi as sales lift
JOHN Halewood, owner and chairman of drinks producer Halewood International has taken a £10m dividend after seeing a sharp rise in earnings.
The Liverpool-based group, which employs 1,120 staff in the UK and overseas, produces own-label drinks and distributes brands such as Lambrini, Lamb’s Navy Rum and Tsingtao.
According to accounts for the year to June sales rose 7% to £262m. Pre-tax profits jumped 25% to £8.8m.
The privately-owned group is controlled by John Halewood, a horse racing enthusiast who won the 2004 Grand National with Amberleigh House. He set up the business with his mother Eileen who died last February.
In their report the directors say the sector did not escape the global recession which has led to price increases.
“Through proactive and decisive management throughout the business… the group has delivered significant gorwth in operating profit, particularly in its core UK operations and has demonstrated that the group is adaptable, successful and resilient throughout the economic cycle.”
Mr Halewood’s racehorses are owned by the company and feature in the accounts as fixed asset investments with a value of £665,000 at June 26, 2010.
