Howard Tenens are looking ahead with confidence.  We are continuing to develop the business for the future.

The company has been providing services to the FMCG market for over 20 years and has invested consistently to build a strong network across the country.

We have invested in a great number of areas including warehouse management systems, electronic customer interfaces, on-line visibility of order status, co-packing facilities, materials handling equipment and a modern vehicle fleet. 

2006 has been another exciting year for the Group in which we have faced many challenges but also have achieved a number of successes within the business.  The year has also seen us extend our property portfolio by further buildings in Andover, Sharpness and Boston.  Howard Tenens Group of Companies are relatively diverse and provides a firm financial base from which to operate. 

Over the last five-years Howard Tenens has seen:

• turnover grow by over 60%
• net profits by over 120%
• net assets revalued by over 100%

Net Profits Pre-Tax & Exceptional Items


Net Assets Re-valued


Turnover


Employees

The operational business has seen growth not only from new business but also organically through our existing customers to whom we are extremely grateful. 

The focus on efficiencies and synergies achieved have offset inflationary increases in costs to maintain our operational margin of 5% of turnover. 

Our property development business has seen a reduction in turnover due to phasing out of construction and also investment in future opportunities.  We expect this to significantly improve in the current financial year.

Our industrial property, which already acts as the financial back bone of the Group has seen a slight reduction in turnover, predominately due to the sale of our Banbury facility during the course of the year and the finishing of certain leaseholds contracts.

The hotel joint venture continues to expand and we will see a significant increase from 1 August 2007 when we open our new hotel at Cotswold Water Park, just outside Swindon.

The financial accounts demonstrate that Howard Tenens remains a financially stable business with a sustainable growth strategy.  The hard work of the management team and the co-operation of our customers has allowed us to keep a tight control on costs throughout the year.