SANMEX International, the Rutherglen-based aerosol manufacturer, has booked a trading profit its final accounts before its acquisition by Barony Universal Products in November.
Sanmex and Irvine-based Barony created the largest independent aerosol manufacturer in the UK, with the combined business employing nearly 230 and turning over around £40m.
New accounts at Companies House show Sanmex made a £716,000 profit in the 11 months to December 31, after bringing its accounting period in line with Barony. Sanmex had booed a profit of £507,000 in the year ended January 2015.
The Sanmex directors note in the accounts that the business is “well placed to service further additional contracts” further to its acquisition by Barony.
The directors add: “The company is expected to generate positive trading results and cash flow for the foreseeable future. As a consequence, the directors believe that the company is well placed to manage its business risk.”
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