Sunday, November 25, 2007
Caffyns profits rise
Caffyns has reported an operating profit of £1.4 million in the six months to September 2007, compared to £1.2 million over the same period last year.
Turnover increased from £85.5m to £95m. Profit before tax and exceptional items are also ahead of last year at £759,000 against £643,000. Profit before tax after exceptional items is up to £3,585,000 from £829,000 last year. This substantial increase was largely the result of a £3m repayment for overpaid VAT from HM Revenue and Customs. The amount received comprised the claim of £1.4m and interest of £1.6m.
Brian Carte, chairman of Caffyns, said: “We are now half way into our three year recovery programme and considering the inflationary pressures on consumers of higher interest rates and fuel costs, it is encouraging to see a substantial increase in turnover.
DATED: 25.11.07
FEED: AM
Turnover increased from £85.5m to £95m. Profit before tax and exceptional items are also ahead of last year at £759,000 against £643,000. Profit before tax after exceptional items is up to £3,585,000 from £829,000 last year. This substantial increase was largely the result of a £3m repayment for overpaid VAT from HM Revenue and Customs. The amount received comprised the claim of £1.4m and interest of £1.6m.
Brian Carte, chairman of Caffyns, said: “We are now half way into our three year recovery programme and considering the inflationary pressures on consumers of higher interest rates and fuel costs, it is encouraging to see a substantial increase in turnover.
DATED: 25.11.07
FEED: AM
