PAYNES DAIRIES

 

Charlie Payne’s Boroughbridge, North Yorks-based liquid milk processing operation have reported sales for the year to April 2020 up 6% at £92.1m. Operating profit was up from £485,000 to £1.26m (an average operating margin of 1.4%) after recording a bad debt charge of £870,000 the year before. Interest charges were up from £210,000 to £250,000. Pre-tax profit was up from £275,000 to £1.0m. Their tax charge was up from £53,000 to £113,000. Capital expenditure was up from £1.17m to £1.25m including a new depot near Birmingham. Shareholder funds were up from £5.0m to £5.9m. The highest paid director was paid an unchanged £120,000. Once again, no dividends were paid. Average staff numbers during the year from 138 to 143.