Lancashire wholesalers slips into the red

Mon, 21 Aug 2017 | BUSINESS SALE

A home entertainment, garden and leisure distribution company based in Lancashire has slipped into the red despite an almost 10 per cent rise in profits.

Preston's MBL Group recently posted post-tax losses of £158,000 for the year ending 31 March 2017, compared to profits of £75,000 a year earlier. The reversal in fortunes was blamed on exceptional costs during the period which amounted to around £693,000 despite both trading divisions achieving profitability.

In 2016/17, revenues increased by 8 per cent to £16m, but a strategic review toward the end of 2016 concluded that it may be in the best interests of the company for a third party to develop their trading businesses and take them forward.

Consequently, the MBL board has begun conducting a formal sales process regarding each of the company's trading businesses.

Tim Jackson-Smith, chairman of MBL, said: "The financial year ending 31 March 2017 saw the group undergoing many changes including the completion of a strategic review and the commencement of a formal sales process.

"However, despite the many challenges and distractions that these changes presented I am pleased to say that both trading divisions performed well and were each profitable and cash generative. There were a number of one-off exceptional costs that the group incurred in connection with the above changes that resulted in a loss at group level.

"On behalf of the board, I would like to thank everyone across the group for their hard work and dedication."

Subscribe to Business Sale Report here.


Share this article



Latest Businesses for Sale

Classic Car Restoration & Sales (Fast Sale)
Lincolnshire, UK Wide

Expert team of specialist vehicle restoration mechanics and engineers. Spacious showroom and workshops. Please note, this is an accelerated process. Best and final offers are to be received by 5:00pm Monday 17 December 2018.

Asking Price: Offers Invited
Turnover: £343,328

Private & Corporate Event Catering Management Company
South East, UK

A profitable independent catering company that provides catering services throughout the Southeast. This is an opportunity to purchase a business with an established turnover, a loyal customer base and potential to grow. Offers invited.

Asking Price: £220,000
Turnover: £700,000

Takeaway & Delivery Restaurant
Barking, London, South East, UK

Profitable pizza, kebabs, chicken takeaway and delivery restaurant for sale. Established over 20 years. Very busy takeaway and delivery situated in a busy location with custom from local residential area and nearby school. Lots of passing trade from...

Asking Price: £159,000
Turnover: £384,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
11
 
Dec
 

Concrete company acquired in impressive deal | BUSINESS SALE

A Wrexham-based concrete products and quarrying company is s...

 
08
 
Dec
 

Geotechnical firm completes MBO | MBO/MBI

A geotechnical consulting group based in Durham has successf...

 
06
 
Dec
 

Construction company enters administration | ADMINISTRATION

A Bristol-based construction firm has collapsed into adminis...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
11
 
Dec
 

Concrete company acquired in impressive deal | BUSINESS SALE

A Wrexham-based concrete products and quarrying company is s...

 
08
 
Dec
 

Geotechnical firm completes MBO | MBO/MBI

A geotechnical consulting group based in Durham has successf...

 
06
 
Dec
 

Construction company enters administration | ADMINISTRATION

A Bristol-based construction firm has collapsed into adminis...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources