Berwin Group’s profits poised to bounce back
RUBBER and PVC company Berwin Group has seen its profits before tax plummet to £219,332 in 2009 from £1.045m last time.
The company, which is based in Dukinfield in Greater Manchester, consists of Berwin Rubber Company, Flexi-Cell (UK), Berwin of Lydney and Fabprene.
It attributes its loss in profits to its Fabprene division which it says has “continually traded at a loss”.
A director’s report for the year ended July 31, 2009, states that the company has now implemented “major changes” in the group which has given it increased confidence.
The report states: “The directors could not allow this to continue, therefore major changes in the group took place during the year.
“The directors are looking forward to next year when they believe that all group companies should be trading profitably.
“In terms of financial risk management, the group considers that it has limited exposure to the various aspects of financial risk.
“The majority of the group’s revenue is invoiced in sterling and all of its operations and costs arise within the UK.”
The group’s annual report shows that it had a turnover of £35.4m in 2009 which was down from £39.6m in 2008.
It accounts also show that it has cut its staff numbers over the past year from 227 to 210 which has slashed its employment costs from £6.2m to £5.47m.
