Flynns in profit

Thomas Flynn and sons Ltd have returned to profit after reporting losses for the previous two financial periods. In the year to the end of June 2003 the Mullingar based company reported a small pretax profit of €19,950.

In the previous 18 month financial period to the end of June 2002 the company recorded a loss before tax of €811,607 from total sales of €27.2 million.

The latest set of accounts lodged in the company's office shows turnover of €16.9 million. This yielded an operating profit of €157,244, compared to an operating loss of €529,109 for the previous 18 month period.

Thomas Flynn and sons are a family run business involved in animal feed, machinery sales and oil distribution. Around 62 people are employed by the company which is owned by 6 members of the Flynn family.

They are one of the main machinery dealers for Massey Ferguson and Fendt tractors in the country.

The company's balance sheet shows shareholders funds of €594,084. The company's net debt increased from €1.4 million to €2.0 million at the end of June 2003.

eBidding for live cattle launched in Scotland

A new system for selling cattle has been launched in Scotland. The innovative Aberdeen and Northern marts group has introduced bidding over the internet into live cattle auctions. The new eBid@live auction will be launched at a sale this Friday, April 2nd.

From home or an office, a buyer can place a bid via the internet during or before the live auction. As well as having a full description of the lots on offer, including pictures, the remote buyer can see if a bid has been made in the ring or online.

The first sale involves cattle that were entered in the young farmers out wintering competition.

The eBid system, which was developed by the Belgium company Aucxis Trading Solutions, will also be used by the ANM group to sell other goods like fodder, quota, machinery and antiques.

Meanwhile the diversified ANM group has purchased a meat company called Highland Country Foods Ltd. It produces a range of pork products for sale to butchers, the food service sector, and to wholesalers. The company has a turnover of Stg£2.2 million and employs 20 people at its factory in Forres. The company will be integrated into ANM's subsidiary Scotch Premier Meat Ltd.

The extent to which the livestock mart group has diversified is highlighted by the group's previous acquisition. At the end of last year it bought the 308 acre Malverston farm near Eglin, which has planning permission for an 18 hole golf course and planning permission for a 37 bedroom hotel and leisure centre and planning for 40 houses.

The ANM group is expected to announce its annual results shortly with operating profits likely to be around Stg£1.4 million in 2003.

Kerry changes at UK readymeals plants

The Kerry group are currently tackling the cost base at one of the former Hibernia owned ready meals business in the UK. Seventy staff are being let go at the chilled ready meals plant in Hartlepool. This decision was communicated to the staff last week.

The business was bought from the liquidator at the end of last year after the Oliver Murphy owned business ran into difficulty.

It will still employ around 180 people. These latest redundancies are right throughout the company from management down.

A spokesman for Kerry said that they are currently recruiting operatives at their ready meals and sliced meats facility in Durham, so there are opportunities for staff to be redeployed.

It's also understood that Kerry are currently taking on new staff at the other former Hibernia business in Bristol. Hibernia had indicated previously that they were planning to close this facility.