Company Snapshot: Brett Martin Holdings Ltd
The main Brett Martin manufacturing business is based in Newtownabbey. The group manufactures glassfibre thermoplastic sheeting and pipes.
These plastic products are frequently used in construction and drainage contracts. Other subsidiaries of the group are based in Great Britain and the Netherlands. A large proportion of the production is exported to clients in more than 70 countries.
In the early 2000s the group recorded significant increases in business activity with turnover reaching a high point in 2007 at £112m. Since then, consistent with construction-related business, turnover has fallen in both 2008 and 2009.
Operating profits reached a high in 2007, well ahead of preceding years.
A similar pattern is reflected in pre-tax profits, which, after a sharp fall in 2008, recovered somewhat in 2009. Dividend payments to shareholders have averaged about £2m in recent years, reducing to £1.5m in 2008, but rising again in 2009 to £2m. Employment in the group has varied between 700 and 800 people but in 2009, numbers fell 9% to 737 people.
The balance sheet value of shareholders’ funds has varied, usually influenced by the combined impact of post-tax profits after allowing for the deduction of dividends. A feature of the 2009 balance sheet was the lower value attributed to the value of stocks held in the business, down from £14.2m in December 2008 to £12.2m a year later. The group has been involved in several construction contracts for the 2012 London Olympic games.