Annual profits

Finlay Annual Profits Jump On Eight-Digit Gain From Asset Sale | New

Coffee and tea supplier Finlays posted double-digit profits last year on the sale of some non-core assets.

Accounts filed with Companies House for Finlays parent company James Finlay Ltd showed revenue up 7.8% to $ 545.1 million in 2018.

Operating profits jumped 45% to $ 40.3 million as the company enjoyed a gain of $ 30.5 million on the sale of non-core property, plant and equipment.

This led to Finlays’ pre-tax profitability up 25% to $ 45.5 million.

“The business continues to focus on tea, coffee and herbal remedies with a number of non-core businesses sold during the year including the Sri Lankan Insurance division and a wood processing business,” the company said.

In addition, “shortly after the end of the year”, two other activities – including a packaged delivery – were sold.

The group was founded in 1750. It supplies tea, coffee and natural ingredients to the global beverage industry, with broad interests in plantations, mining, trading, R&D, packaging and manufacturing. customer support in Kenya, Sri Lanka, China, Argentina, North America and Great Britain.

The UK and European markets accounted for 20% of its revenue last year, with the US and Africa accounting for 28% and 34% respectively.

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