Company Report: W&R Barnett
W & R Barnett is one of the largest Northern Ireland companies. Its latest results would have ranked it ninth in the 2017 Top 100.
It's Northern Ireland's largest international grain trader. In addition the company trades in derivatives, oils and molasses, the operation of dockside facilities, manufactures animal feeds and also specialises in horse breeding. It manufactures corrugated board and designs and manufactures corrugated cases and packaging solutions.
Figures from BHH and R&H Hall have been consolidated into the group results for W&R Barnett. Group operations increased dramatically partly after the acquisition in 2011 of the United Molasses Group.
During the most recent financial year the group made more acquisitions, adding £175m to turnover and £7.2m to operating profits. It now operates extensively in Great Britain and internationally, owning or having large holdings in 74 non-dormant subsidiaries, including 19 outside the UK.
The operating and pre-tax profits for the year to July 2014 are as stated before correction to standard FRS 102 and are, therefore, not comparable with the figures for 2015 and 2016 stated on the new standard.
With pre-tax profits of £36m, this group is one of the six largest profit earners amongst the expanding group of locally owned businesses, excluding the comparison with the local banks.
It has controlling interests in other Northern Ireland trading units in the animal feedstuffs sector including in R&H Hall, James Allen & Co, North West Silos, West Twin Silos and BHH Ltd.