Thomas Hardy Holdings, the contract brewer and drinks packaging company, has reported an “excellent performance” for the year to 30 September 2010, with pre-tax profits up 171% to £1.73m. The company, whose clients include Heineken UK, saw turnover rise to £40.373m (2009: £37.085m), with production volumes up 6% in brewing and 5% in bottling. “This excellent performance is due to increasing volumes and good overall cost control,” the firm said in its accounts filed at Companies House. Operating profit was £1.783m (2009: £793k) with profit for the financial year up from £518k to £1.275m. However, despite the rise in profits, the group’s brewing subsidiary’s cumulative trading balance remains in deficit. Thomas Hardy Holdings operates a contract brewing and packaging plant at Burtonwood, Cheshire, and a packaging site in Kendal, Cumbria, under subsidiary companies. It has contracts with eight drinks companies. Cash generated from operations was used to pay down debt and invest in new plant and equipment - during the year £897k was invested in capital equipment “to develop and support existing contracts”. “At the year end, the group held cash balances of £1.1m on current account. The forecast for the coming year shows continuing profit generation, which places the group in a good position to meet any prospective tough economic challenge.” Emoluments for the three directors – Peter Ward, Rae Ward and Neil Voss – totalled £1.25m, down from £1.36m in 2009. The highest-paid director received £858k (2009: £782k). The directors proposed that no dividend be paid; in 2009, the dividend payment was £333,333.

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