Company Snapshot: BHH Ltd
BHH, formerly known as Barnett Hall Holdings, along with its subsidiary companies including John Thompson and Sons, is a major supplier of animal feedstuffs in Northern Ireland.
During the year to July 2008 the group expanded further through the acquisition from AB Agri of the feed-milling plant at Knockmore in Lisburn. This purchase cost just over £7m. BHH issued preference shares with a nominal value of £5m.
Turnover in BHH increased sharply in the last year by 40%. The accounts note that the increase in turnover primarily reflected increased commodity prices which added to the price of inputs and was then reflected in output prices.
Both operating and pre-tax profits increased significantly. However, pre-tax profits represented less than 2.8% of turnover which was itself less than the profit ratio in the two previous years.
Average employment in the group, at 173 people, was 7% higher than a year earlier.
In June 2008, W R Barnett who has been a long serving director in this and related companies resigned as a director. Two new Directors were elected: W B.Barnett and D G Billington.
The company sponsored defined benefit pension scheme shows an actuarial surplus in the two most recent years: a recovery from a deficit in 2006.