Company Report: Boreal
Boreal has its parent company registered office in Portadown. However, Boreal is the parent of a diverse group of businesses trading not just in Northern Ireland but also in Great Britain, France and Hong Kong.
Boreal holds 100% of the share capital in Noel Eakin and Sons and has a majority shareholding in many of its subsidiaries trading as Hills Numberplates, Hills France SAS, Faab Fabricanto SAS and Tiflex IM. The principal activities of the group are the development, supply and manufacture of vehicle number plate components as well as related specialist signs, plastic injection moulded products and vacuum metallising.
The business supplies products many of which are subject to intellectual property rights, owned in the group.
The enhanced trading results in 2016 were affected by the recent previous acquisition of two businesses in 2015: FAAB Batricauto and Dual Metallising. Tiflex IM was acquired in October 2016 so three months of its trading was included in the latest accounts.
During 2016 the group refinanced some short-term shareholder and inter-company loans. In addition the group repaid £3.3m mezzanine debt and arranged new loans of £8.3m. This allows the group to consider further business acquisitions.
Each year the business has made modest dividend allocations of £60,000.
Whilst the business has been growing, the finances have proved profitable and retained profits have been reflected in a further significant increase in the value of shareholders' funds at the end of the financial year.