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.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
Established respected business, holding valuable private and public sector client base, there being a number of key clients, some paying a retainer and from which regular repeat business is received ensuring a substantial pipeline figure.
A specialist manufacturing business of quartz and granite kitchen and bathroom worktops. It has been established in conjunction with retail premises (retail premises are also available if required). It offers a supply and fit service and is located i...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
25
|
Apr
|
Tile business old to management team by Norcros | MBO/MBI
Johnson Tiles UK, a tile business based in Stoke-on-Trent, h...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
New private equity owner for fleet hire firm | BUSINESS SALE
West Lancashire-based fleet hire business NRG Riverside has ...
25
|
Apr
|
Tile business old to management team by Norcros | MBO/MBI
Johnson Tiles UK, a tile business based in Stoke-on-Trent, h...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.