Mawdsley Group delivers record year

MAWDSLEY Group Investments, the new parent company for privately-owned pharmaceutical wholesaler and distributor Mawdsley-Brooks, has published record financial figures.

In the year to the end of March last year, the Salford-based group, which also comprises healthcare IT business Positive Solutions and patient information specialist Luto Research, grew profits by 33% to £7.2m as turnover increased nearly 5% to £337.2m.

The company, which also has a French business based in Orleans, delivers medicines and pharmaceutical products to chemists, GPs and hospitals. Other services, including repackaging and labelling of products are also provided.

In his report, chairman Dr John Mawdsley, who owns 24% of the company’s shares, said the group had performed well with operating profits up 40% to a record £8.88m.

He said the diversification of the company had helped improve both service to customers and financial performance.

“This is the first report for Mawsleys Group Investments. I have been encouraged by our effective operation in the various markets where the group is now represented, and group trading and profitability continues to be satisfactory.”

Dr Mawdsley He said as a result in a change in policy on its warehousing needs, the group was buying freehold premises, rather than leasing. During the year the group spent £6.3m on property.

“Purchasing warehousing gives considerably lower costs of ownership and provides better flexibility in how the premises are used,” he explained.

The previous parent company, Mawdsley-Brooks & Co Ltd, is now one of MGI’s operating subsidiaries.