Company Report: Ballyvesey
Ballyvesey Holdings has registered headquarters in Doncaster. The business is one of the largest private sector companies to start in Northern Ireland. It is controlled through NI shareholders in the Montgomery family. The group's principal activities are in transport services, vehicle sales and trailer manufacture.
It owns a large number of transport-related businesses. It owns 17 subsidiaries registered here, including Montgomery Transport, East-West Transport, Dukes Transport (Craigavon) and J.E.Coulter.
There are also 23 transport companies in England and the group also owns a subsidiary recruitment agency in Poland. The businesses in England include three large fleets of rental vehicles.
The group holds truck franchises for DAF, Fiat, Mercedes and Scania for various areas in the UK, and manufactures trailers for road transport under the Montracon trade name.
Turnover has recently been increasing year by year, but in the last year decreased by £12m to £610m, a 2% decrease. Group operating profit in the most recent year reduced to £7.8m after a large rise in the previous year. Pre-tax profits also fell £4.4m. This took account of a trading loss from discontinued business of £1.8m.
A feature of the transport business is the sums involved in leasing finance for vehicles. In the last year, capital repayments under finance leases cost £28.7m. Loan repayments cost £12m and for ongoing business additional loans advanced to the business were £22.2m. The company has a modest continuing dividend policy for shareholders. In each recent year, dividends to shareholders cost £242,000.