Company Snapshot: BHH Ltd
Profits up at animal feeds firm
BHH, formerly known as Barnett Hall Holdings, is a large business engaged in the manufacture and sale of animal feedstuffs and fertilisers. The registered accounts consolidate information from its subsidiary companies including John Thompson and Sons, Independent Fertilisers and Precision Analysis.
Turnover in BHH doubled in the three years from 2006 to 2009. However, in the most recent year turnover fell by 5%. The reduced turnover is attributed to falling commodity prices during the year.
Although turnover was slightly lower last year, operating profits increased by 7%. Pre-tax profits were fractionally lower in 2010 although compared to other recent years the ratio of pre-tax profits to turnover remained encouraging. Average employment in the group, at 178 people, was 17% lower than the buoyant numbers in 2009, a year earlier.
For some employees, the company operates a defined benefit pension scheme.
In contrast to a number of other local defined benefit schemes, the actuarial assessment of this scheme has identified a surplus in the accounts for each of the last four years.
BHH trades with other 'related' companies including W-amp;R Barnett and R-amp;H Hall. Purchases from related companies in 2010 were valued at £120m. This is the equivalent of just over 60% of BHH turnover.of BHH.
Shareholders' funds has fallen in each of the last two years. Although post-tax profits were significant the impact of retaining post-tax profits was more than offset by dividend payments.