Hen­der­son Group

Belfast Telegraph - Business Telegraph - - News -

JOHN Hen­der­son (Hold­ings) is a fam­ily-con­trolled par­ent to eight trad­ing sub­sidiaries with a range of whole­sale and re­tail ac­tiv­i­ties in food dis­tri­bu­tion mainly in North­ern Ire­land. In re­cent years it’s shown im­proved an­nual re­sults al­though, ex­cep­tion­ally, pre-tax prof­its were frac­tion­ally lower in 2017.

Hen­der­son Whole­sale holds the fran­chise for Spar, Vivo and VG and offers ser­vices to more than 450 re­tail out­lets.

Other sub­sidiaries in­clude Hen­der­son Re­tail, which has a net­work of 79 di­rectly-owned su­per­mar­ket, neigh­bour­hood and fore­court stores as well as seven other stores trad­ing un­der li­cence.

Hen­der­son Food­ser­vice pro­vides food ser­vices to the cater­ing trade. Year by year the group has ex­panded by ad­di­tional in­vest­ment and by ac­qui­si­tion. Dur­ing 2017, 25 stores were trans­ferred from other com­peti­tor groups, five new stores were opened and six other stores ac­quired.

On an in­creased level of turnover, up nearly £60m on the pre­vi­ous year, op­er­at­ing prof­its at £26m also in­creased.

Op­er­at­ing prof­its, at 3.5% of turnover, point to com­pet­i­tive pres­sures in the busi­ness. In the re­view of fi­nan­cial per­for­mance in 2017, the profit and loss ac­counts show an im­pair­ment of £6.3m on a reval­u­a­tion of prop­erty, com­pared to a sim­i­lar cost of £3.5m in 2016.

The group is man­ag­ing with rel­a­tively low lev­els of ex­ter­nal bor­row­ing. Net bor­row­ing fell in 2015 and 2016 but in­creased by £2.5m in 2017. The bal­ance sheet value of share­hold­ers’ funds at the end of 2017 was over £173m — dou­bled in the last seven years. Employment in the group has in­creased and av­er­aged 3,387 peo­ple in 2017.

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