Brett Martin profits hit by recession
Published: 06 January, 2010
MALLUSK, NORTHERN IRELAND: Building material manufacturer Brett Martin Holdings reported pre-tax profits down from £6.9m to £1.2m.
The firm, which has subsidiary companies in Northern Ireland, Great Britain and the Netherlands, also reported turnover down from £112.4m in 2007 to £111.6m in 2008.
Trading since 1958, Brett Martin is a privately-owned family business that manufactures plastic products for construction, roofing, print and display. Capital spending at £4.7m was down from £6.2m a year earlier but it was at a higher level than in other recent years and was significantly higher than the depreciation allowance on existing assets the company said.
A dividend of £1.5m was paid to the shareholders, down from £2m paid a year before.