tullis russell papermakers limited
tullis russell papermakers limited Company Information
Company Number
SC006195
Website
trg.co.ukRegistered Address
5th floor, 130, st. vincent street, glasgow, G2 5HF
Industry
Manufacture of paper and paperboard
Telephone
-
Next Accounts Due
3092 days late
Group Structure
View All
Shareholders
tullis russell group ltd 100%
tullis russell papermakers limited Estimated Valuation
Pomanda estimates the enterprise value of TULLIS RUSSELL PAPERMAKERS LIMITED at £75.6m based on a Turnover of £124.6m and 0.61x industry multiple (adjusted for size and gross margin).
tullis russell papermakers limited Estimated Valuation
Pomanda estimates the enterprise value of TULLIS RUSSELL PAPERMAKERS LIMITED at £0 based on an EBITDA of £-1.5m and a 4.81x industry multiple (adjusted for size and gross margin).
tullis russell papermakers limited Estimated Valuation
Pomanda estimates the enterprise value of TULLIS RUSSELL PAPERMAKERS LIMITED at £14.5m based on Net Assets of £9.6m and 1.51x industry multiple (adjusted for liquidity).
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Tullis Russell Papermakers Limited Overview
Tullis Russell Papermakers Limited is a live company located in glasgow, G2 5HF with a Companies House number of SC006195. It operates in the manufacture of paper and paperboard sector, SIC Code 17120. Founded in May 1906, it's largest shareholder is tullis russell group ltd with a 100% stake. Tullis Russell Papermakers Limited is a mature, mega sized company, Pomanda has estimated its turnover at £124.6m with declining growth in recent years.
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Tullis Russell Papermakers Limited Health Check
Pomanda's financial health check has awarded Tullis Russell Papermakers Limited a 3.5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 5 areas for improvement. Company Health Check FAQs
5 Strong
2 Regular
5 Weak
Size
annual sales of £124.6m, make it larger than the average company (£17m)
£124.6m - Tullis Russell Papermakers Limited
£17m - Industry AVG
Growth
3 year (CAGR) sales growth of -5%, show it is growing at a slower rate (3.4%)
-5% - Tullis Russell Papermakers Limited
3.4% - Industry AVG
Production
with a gross margin of 14.3%, this company has a higher cost of product (22.5%)
14.3% - Tullis Russell Papermakers Limited
22.5% - Industry AVG
Profitability
an operating margin of -3.1% make it less profitable than the average company (3.1%)
-3.1% - Tullis Russell Papermakers Limited
3.1% - Industry AVG
Employees
with 492 employees, this is above the industry average (104)
492 - Tullis Russell Papermakers Limited
104 - Industry AVG
Pay Structure
on an average salary of £37.8k, the company has an equivalent pay structure (£35.4k)
£37.8k - Tullis Russell Papermakers Limited
£35.4k - Industry AVG
Efficiency
resulting in sales per employee of £253.3k, this is more efficient (£182.4k)
£253.3k - Tullis Russell Papermakers Limited
£182.4k - Industry AVG
Debtor Days
it gets paid by customers after 35 days, this is earlier than average (61 days)
35 days - Tullis Russell Papermakers Limited
61 days - Industry AVG
Creditor Days
its suppliers are paid after 74 days, this is slower than average (54 days)
74 days - Tullis Russell Papermakers Limited
54 days - Industry AVG
Stock Days
it holds stock equivalent to 47 days, this is in line with average (44 days)
47 days - Tullis Russell Papermakers Limited
44 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 1 weeks, this is less cash available to meet short term requirements (2 weeks)
1 weeks - Tullis Russell Papermakers Limited
2 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 76.6%, this is a higher level of debt than the average (57.4%)
76.6% - Tullis Russell Papermakers Limited
57.4% - Industry AVG
TULLIS RUSSELL PAPERMAKERS LIMITED financials
Tullis Russell Papermakers Limited's latest turnover from March 2014 is £124.6 million and the company has net assets of £9.6 million. According to their latest financial statements, Tullis Russell Papermakers Limited has 492 employees and maintains cash reserves of £1.1 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 | Mar 2010 | |
|---|---|---|---|---|---|
| Turnover | 124,610,000 | 128,617,000 | 131,688,000 | 145,381,000 | 127,389,000 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 106,766,000 | 108,980,000 | 109,613,000 | 116,641,000 | 97,254,000 |
| Gross Profit | 17,844,000 | 19,637,000 | 22,075,000 | 28,740,000 | 30,135,000 |
| Admin Expenses | 21,732,000 | 24,019,000 | 28,077,000 | 28,197,000 | 33,062,000 |
| Operating Profit | -3,888,000 | -4,382,000 | -6,002,000 | 543,000 | -2,927,000 |
| Interest Payable | 3,356,000 | 3,354,000 | 4,150,000 | 4,374,000 | 4,117,000 |
| Interest Receivable | 2,678,000 | 2,674,000 | 2,931,000 | 3,948,000 | 3,698,000 |
| Pre-Tax Profit | -3,409,000 | -5,062,000 | -6,828,000 | 117,000 | -3,346,000 |
| Tax | 1,683,000 | 1,022,000 | 1,468,000 | -212,000 | 364,000 |
| Profit After Tax | -1,726,000 | -4,040,000 | -5,360,000 | -95,000 | -2,982,000 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Retained Profit | -1,726,000 | -4,040,000 | -5,360,000 | -95,000 | -2,982,000 |
| Employee Costs | 18,586,000 | 18,907,000 | 20,708,000 | 19,461,000 | 18,415,000 |
| Number Of Employees | 492 | 525 | 539 | 577 | 569 |
| EBITDA* | -1,533,000 | -1,836,000 | -2,974,000 | 3,842,000 | 4,365,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 | Mar 2010 | |
|---|---|---|---|---|---|
| Tangible Assets | 8,934,000 | 21,063,000 | 23,107,000 | 25,438,000 | 27,335,000 |
| Intangible Assets | 0 | 0 | 0 | 0 | 744,000 |
| Investments & Other | 0 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 8,934,000 | 21,063,000 | 23,107,000 | 25,438,000 | 28,079,000 |
| Stock & work in progress | 13,771,000 | 18,808,000 | 14,943,000 | 17,388,000 | 15,359,000 |
| Trade Debtors | 11,998,000 | 11,405,000 | 12,071,000 | 14,005,000 | 11,764,000 |
| Group Debtors | 1,195,000 | 712,000 | 763,000 | 0 | 0 |
| Misc Debtors | 4,081,000 | 3,336,000 | 2,083,000 | 2,062,000 | 1,298,000 |
| Cash | 1,058,000 | 5,000 | 631,000 | 17,114,000 | 20,062,000 |
| misc current assets | 0 | 0 | 0 | 0 | 0 |
| total current assets | 32,103,000 | 34,266,000 | 30,491,000 | 50,569,000 | 48,483,000 |
| total assets | 41,037,000 | 55,329,000 | 53,598,000 | 76,007,000 | 76,562,000 |
| Bank overdraft | 330,000 | 2,678,000 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 21,916,000 | 24,079,000 | 20,810,000 | 24,713,000 | 21,331,000 |
| Group/Directors Accounts | 2,267,000 | 9,219,000 | 8,099,000 | 15,746,000 | 10,993,000 |
| other short term finances | 0 | 0 | 0 | 0 | 4,000,000 |
| hp & lease commitments | 42,000 | 40,000 | 0 | 0 | 0 |
| other current liabilities | 6,733,000 | 7,589,000 | 8,533,000 | 9,701,000 | 10,109,000 |
| total current liabilities | 31,288,000 | 43,605,000 | 37,442,000 | 50,160,000 | 46,433,000 |
| loans | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 131,000 | 173,000 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 0 | 0 | 2,584,000 | 0 | 0 |
| provisions | 0 | 0 | 0 | 1,759,000 | 2,565,000 |
| total long term liabilities | 156,000 | 665,000 | 4,535,000 | 4,387,000 | 7,591,000 |
| total liabilities | 31,444,000 | 44,270,000 | 41,977,000 | 54,547,000 | 54,024,000 |
| net assets | 9,593,000 | 11,059,000 | 11,621,000 | 21,460,000 | 22,538,000 |
| total shareholders funds | 9,593,000 | 11,059,000 | 11,621,000 | 21,460,000 | 22,538,000 |
| Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 | Mar 2010 | |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Operating Profit | -3,888,000 | -4,382,000 | -6,002,000 | 543,000 | -2,927,000 |
| Depreciation | 2,355,000 | 2,546,000 | 3,028,000 | 3,555,000 | 4,237,000 |
| Amortisation | 0 | 0 | 0 | -256,000 | 3,055,000 |
| Tax | 1,683,000 | 1,022,000 | 1,468,000 | -212,000 | 364,000 |
| Stock | -5,037,000 | 3,865,000 | -2,445,000 | 2,029,000 | 15,359,000 |
| Debtors | 1,821,000 | 536,000 | -1,150,000 | 3,005,000 | 13,062,000 |
| Creditors | -2,163,000 | 3,269,000 | -3,903,000 | 3,382,000 | 21,331,000 |
| Accruals and Deferred Income | -856,000 | -944,000 | -1,168,000 | -408,000 | 10,109,000 |
| Deferred Taxes & Provisions | 0 | 0 | -1,759,000 | -806,000 | 2,565,000 |
| Cash flow from operations | 347,000 | -2,890,000 | -4,741,000 | 764,000 | 10,313,000 |
| Investing Activities | |||||
| capital expenditure | |||||
| Change in Investments | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | |||||
| Financing Activities | |||||
| Bank loans | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | -6,952,000 | 1,120,000 | -7,647,000 | 4,753,000 | 10,993,000 |
| Other Short Term Loans | 0 | 0 | 0 | -4,000,000 | 4,000,000 |
| Long term loans | 0 | 0 | 0 | 0 | 0 |
| Hire Purchase and Lease Commitments | -40,000 | 213,000 | 0 | 0 | 0 |
| other long term liabilities | 0 | -2,584,000 | 2,584,000 | 0 | 0 |
| share issue | |||||
| interest | -678,000 | -680,000 | -1,219,000 | -426,000 | -419,000 |
| cash flow from financing | -7,410,000 | 1,547,000 | -10,761,000 | -656,000 | 40,094,000 |
| cash and cash equivalents | |||||
| cash | 1,053,000 | -626,000 | -16,483,000 | -2,948,000 | 20,062,000 |
| overdraft | -2,348,000 | 2,678,000 | 0 | 0 | 0 |
| change in cash | 3,401,000 | -3,304,000 | -16,483,000 | -2,948,000 | 20,062,000 |
tullis russell papermakers limited Credit Report and Business Information
Tullis Russell Papermakers Limited Competitor Analysis
Perform a competitor analysis for tullis russell papermakers limited by selecting its closest rivals and benchmarking them against 12 key performance metrics.
tullis russell papermakers limited Ownership
TULLIS RUSSELL PAPERMAKERS LIMITED group structure
Tullis Russell Papermakers Limited has no subsidiary companies.
Ultimate parent company
2 parents
TULLIS RUSSELL PAPERMAKERS LIMITED
SC006195
tullis russell papermakers limited directors
Tullis Russell Papermakers Limited currently has 6 directors. The longest serving directors include Mr Frederick Bowden (Oct 1994) and Mr Christopher Parr (Jun 1997).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Frederick Bowden | United Kingdom | 77 years | Oct 1994 | - | Director |
| Mr Christopher Parr | 58 years | Jun 1997 | - | Director | |
| Mr Malcolm Sinclair | Scotland | 64 years | Nov 1998 | - | Director |
| Mr Nicholas Shepherd | 61 years | Sep 2000 | - | Director | |
| Mr Geoffrey Miller | Scotland | 61 years | Mar 2009 | - | Director |
| Mr Niall MacDonald | Scotland | 64 years | Oct 2014 | - | Director |
P&L
March 2014turnover
124.6m
-3%
operating profit
-3.9m
-11%
gross margin
14.4%
-6.21%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
March 2014net assets
9.6m
-0.13%
total assets
41m
-0.26%
cash
1.1m
+210.6%
net assets
Total assets minus all liabilities
tullis russell papermakers limited company details
company number
SC006195
Type
Private limited with Share Capital
industry
17120 - Manufacture of paper and paperboard
incorporation date
May 1906
age
118
accounts
Full Accounts
ultimate parent company
previous names
tullis, russell & company, limited (April 1997)
incorporated
UK
address
5th floor, 130, st. vincent street, glasgow, G2 5HF
last accounts submitted
March 2014
tullis russell papermakers limited Charges & Mortgages
A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.
We found 2 charges/mortgages relating to tullis russell papermakers limited. Currently there are 2 open charges and 0 have been satisfied in the past.
tullis russell papermakers limited Companies House Filings - See Documents
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