Worth thinking about28 Jul 2009 14:37
Still hold a few of these and just looking back at the recent Final results which are greatly improved .
Supercart, the UK company involved in the design, marketing and distribution of plastic shopping trolleys, today announces its Preliminary Results for the Year ended 31 December 2008.
Highlights:
Turnover of £4,809,000 (2007: £3,342,000) up 44%
Operating expenses up 37% due to an increase in staffing costs
Market volatility impacted raw material prices and resulted in a reduction in gross profit margin to 18% (2007:19%)
Acquisition of certain assets of Rehrig International Incorporated, an established trolley manufacturer in North America
In South Africa, unit sales up more than 30%, gross profits up 33%.
Net cash balances of £1.025 million as at 31 December 2008 (2007: £1.75 million)
Victor Segal, Chairman of the Company, commented: 'While we continue to make progress in the major markets, albeit not at the rate for which we would wish, I believe the transaction with the Rehrig assets announced on 20 March 2009 will completely transform our position in North America. As a result, I believe we can look forward to a significantly improved performance in 2009 and beyond.'