Company Report: Bemis Packaging
Bemis Healthcare Packaging operates from a plant at Campsie, Londonderry. It is an American owned subsidiary of Bemis Co Inc, based in Neenah, Wisconsin in the US. The Northern Ireland registered company also consolidates the performance of a wholly owned subsidiary based in Malaysia: Bemis Asia Pacific. It was formerly known as Perfecseal.
The company's main activity is the manufacture in a controlled environment of sterile barrier systems which are used for medical devices and pharmaceuticals.
In the last three years this Northern Ireland-based plant has registered successful and improving results.
However, no dividends have been paid to the shareholding owners and post-tax profits have been retained in reserves. The balance sheet value of shareholders' funds has more than doubled in that period.
Business turnover has increased significantly and reached nearly £58m in 2017. The gross profit margin, even on increasing sales, has also tended to improve and was recently a fraction under 27%.
The balance sheet shows that the company only has a modest reliance on borrowed funds to facilitate its operations. As a consequence the level of pre-tax profits is only slightly lower than operating profits. The unit has enjoyed the ability to contract for significant extra investment in capital assets.
Employment numbers have increased in each of the last three years.
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