Timothy Taylor, the West Yorkshire brewer and pub operator, has reported an 8.16% fall in operating profit for the year to 30 September 2010 after a slight dip in turnover and a rise in costs. Operating profit fell from £3,160,543 to £2,902,673, with turnover down from £22,676,813 to £22,410,421 and cost of sales falling from £9,356,180 to £9,094,429, according to accounts filed at Companies House. Profit on ordinary activities before taxation fell 10.51% to £2,867,836, while profits for the financial year after tax and dividends decreased 22.8% to £1.257,803 - an interim dividend payment of £722,199 was made (2009: £687,809). Gross profit was £13,315,992 (2009: £13,320,633). The company incurred higher depreciation charges in 2010 - £1,368,832 against £1,267,211 in 2009 - while staff costs increased from £4,038,609 to £4,208,268. Administrative expenses increased 2.5% to £10,413,319. Directors’ renumeration in the period also increased, from £353,820 to £464,074, with the highest paid director’s payment up from £164,864 to £190,025. Meanwhile, the company approved a big rise in future capex, from £670,065 in 2009 to £2,656,684 in 2010. Earlier this month M&C Report reported that Timothy Taylor is to open the £2.7m extension to its brewery at the end of June.

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