Sanmex International, the Glasgow-based aerosol manufacturer, saw pre-tax profits jump to £506,993 last year, a rise of over £300,000 from the £206,308 in 2013.
That almost restored profit to its 2011 level of around £522,000, as turnover rose from £14.82m to £17.16m in the year to January 30, according to accounts just filed at Companies House.
The third generation family company, owned by Steven Groden and based at Rutherglen, benefited from significant new contracts won during the previous financial year. “A number of these have now started and this has led to a signfnificant rise in turnover during the year,” the directors write. “Further, new contracts have been agreed which will begin to materialise in the year to 30 January 2016.”
Sanmex products sell in large and small retailers, wholesalers, chemists, and market stalls all over the UK, and in more than 40 countries worldwide. It produces and markets body sprays and anti-perspirant products for men and women, air fresheners and odour neutralisers, household cleaning products, furniture polishes, laundry-care ranges, and insecticides. Its brands include Charm, Actif, Soft Touch and Sanmex, but it also supplies for retailers' own labels.
Last year’s report cited the decline in turnover to overstocking with a major export customer and reduced sales from a major retail customer.
The new accounts show UK turnover rose from £11.8m to £13.2m, a rise of 12 per cent, while overseas sales were up from £3m to £3.9m, a 30 per cent increase to take its share of total turnover from 20 per cent to almost 23 per cent.
The directors say : “The company is expected to generate positive cash flows for the foreseeable future and (has) a sustainable customer and supplier base.”
Employee numbers rose from 71 to 76, but the directors’ pay bill reduced from £361,477 to £339,947, with no disclosure for the highest-paid (£149,803 in 2013).
Capital investment was maintained at £467,000, net debt rose from £1.07m to £1.47m, and shareholder funds from £2.85m to £3.33m.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here