Sangers (Northern Ireland)
Published 29/09/2008 | 16:13
Sangers (Northern Ireland) is a wholly owned subsidiary of the Irish registered United Drug Co. The Northern Ireland company is thought to be the largest distributor of pharmaceutical products to the mainly independently owned high street chemists.
In addition to the extensive range of specialist supplies, the company also has an established commitments to provide comprehensive and frequent daily delivery schedules to maintain (and supply) products that may be needed at short notice.
In recent years, the value of turnover has gradually increased from £184m in 2004 to £199m in 2007; an 8% increase in three years which includes volume and price changes.
Operating profits have been relatively stable although there was an 11% decrease in 2007, creating a ratio of operating profit to turnover of only 1.6%.
Pre-tax profits, after the deduction of net interest charges of £2.1m, fell to £1.1m in 2007 from £1.7m the previous year.
Employment has recently averaged 269 people which was a 7% increase in the year.
The company operates a defined benefit pension scheme whose net assets or liabilities are reflected in the balance sheet.
The actuarial valuations have shown a net liability on this scheme of nearly £0.5m at the end of September 2007.
This net liability was down from £1.6m a year earlier.