Norkem shows international strength
KNUTSFORD-based chemicals distributor Norkem Holdings managed to increased pre-tax profits by £300,000 to £1.5m in 2009 despite an 11% drop in sales to £73.1m.
The company said that its increased profits were “testament to the strategic decisions made in previous years” to diversify both its product range and the number of markets it serves.
It said that relationships built with suppliers had helped to broaden its product range, while new office openings fuelled geographic expansion.
Finance director David Robinson said that the firm’s trading figures had benefited from the first full year’s trading of its Spanish office, and added that a new Australian office in Sydney was due to open “within the next few weeks”.
“We’re looking to grow and will open other offices as and when we find them,” he said.
He added that the company had continued to trade well in 2010 and was “comfortable” with its current trading performance.
The privately-owned company generated more than £4m worth of cash during the year , but declined to pay a dividend to shareholders. Net assets increased to £9.4m, up from £8.5m a year earlier.
