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Company report: John Woods (Lisglyn) Ltd

 

By John Simpson

John Woods (Lisglyn) is a major, long-standing, family-owned business based in Armagh. Its principal activities are described as the production, wholesale and retail of food products. In addition to traditional commodities, the business has been successfully marketing a range of modern health-related special items.

In the most recent year there was a slight decline in turnover of nearly 8% following a similar decline in the previous year. In the most recent year, to July 2016, the company enjoyed a small increase in achieved trading margins which resulted in an improved operating profit compared to a year earlier.

Pre-tax profits have generally been lower than operating profits because of the net cost of interest payments on borrowed funds. There was an exception in this pattern in the year to July 2015 as a consequence of a net receipt of £754,000 from the profits of another company.

The company has continued each year with a capital investment programme. In recent years this programme has risen significantly.

Employment in the group averaged 320 people during 2016 and has increased in each of the recent years. With the retention of post-tax profits in the business, and in the absence of recent dividends, the balance sheet value of shareholders' funds has continued to increase, and in July 2016 was registered as just under £11m. The key business risks identified by the company stem from uncertainties relating to the activity of competitors, market trends and changing patterns of consumer behaviour.

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