Return to profits forecast by Thompson & Morgan

Thompson & Morgan expects to show a return to profit in its next set of results as the Suffolk seed company's financial year ends.

Hansord: says the company is in a very healthy position
Hansord: says the company is in a very healthy position

The firm is expected to be put up for sale again by owner Primary Capital next month, while results may come out this summer too.

"We're in a very healthy position," said director Paul Hansord. "We've made quite a few changes staff-wise, which have been good. We'll achieve budget this year in a challenging year and that's good. I think we're into an average profit now."

Hansord added that the loss of new product development manager Michael Perry would not impact on next year's ranges, which are organised. He said a new range of retail tender shoots, better water-retaining seed mats and blister packs are to be launched in 2017.

Thompson & Morgan Group Holdings' sales were £32m to 20 June 2015, according to its latest submitted results, up from £31.6m in 2014 - a one per cent increase. Group total loss for the year after tax was £1.312m, down from a loss before tax of £1.587m in the previous year.

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