Company Report: Delwyn Enterprises
Delwyn Enterprises manufactures the range of garden sheds marketed under the brand name Yardmaster, based in Draperstown.
Delwyn is a subsidiary of a French company, Trigano.
Delwyn has, over the years, been trading successfully from its Northern Ireland base.
Annual turnover has been increasing and in the last two years has exceeded £10m.
Operating profit has varied slightly year on year, but in 2018 has improved to be 25% of turnover.
Recent post-tax profits, relative to turnover, peaked in 2015 and then fell during the next two years.
Profitability in 2018 has regained most of the ground lost in previous results.
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The company report points to a search for improved market share through organic growth.
It also points to recent improvements in buying, inventory management and cost savings on overheads which all contributed to the satisfactory results in 2018.
The company has strong cash reserves and has no major reliance on borrowed funds.
Consequently, pre-tax profits and operating profits show similar results.
Employment numbers have increased in the last three years.
Average employment in 2016 was 69 employees.
This has increased to 93 employees in 2018.
Successful trading results have allowed the company to make annual dividend payments to shareholders.
Payment of dividends of £1.5m in the last year still allowed the balance sheet value of shareholders' funds to increase, at August 30, by just over £700,000 to nearly £9.8m.