Belfast Telegraph

Company Report: Gardrum Holdings

 

John Simpson

By John Simpson

Gardrum Holdings is an international trading company registered in Dromore, Co Tyrone.

In recent years the group has greatly increased its annual turnover on a profitable basis.

The group is principally in business to conduct both on-site and off-site machinery auction sales and valuations of machinery in several other countries as well as the UK.

Subsidiary businesses are registered in Spain, Australia, Hong Kong, Dubai and the USA.

The group also adds that it is involved in the sale of plant and machinery through group auctions and private sales.

Further, the group holds some properties and farm land for use in the group and for development and/or re-sale.

During 2018 the group conducted 49 auctions which was slightly lower than the 55 conducted a year earlier.

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Turnover has increased rapidly in the last two years.

This has contributed to increases in operating profits and pre-tax profits although the trading margins narrowed slightly.

Employment in the group is relatively small, compared to the company's turnover, but was maintained at 89 people last year.

Shareholders' funds, in the balance sheet, have also increased.

Business has been supported by an increase in the value of bank borrowing which at the end of 2018 reached £52m - up £24m on a year earlier.

Belfast Telegraph

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