MIRA
INFORM REPORT
|
Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
NORBROOK LABORATORIES (IRELAND) LIMITED |
|
|
|
|
Registered Office : |
Rossmore Industrial Estate, Monaghan 486816 |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
03.08.2012 |
|
|
|
|
Date of Incorporation : |
08.01.1980 |
|
|
|
|
Com. Reg. No.: |
IE073011 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Manufacturer of pharmaceutical products |
|
|
|
|
No. of Employees |
Not
Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Ireland |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Ireland ECONOMIC OVERVIEW
Ireland is a small, modern, trade-dependent economy. Ireland was among
the initial group of 12 EU nations that began circulating the euro on 1 January
2002. GDP growth averaged 6% in 1995-2007, but economic activity has dropped
sharply since the onset of the world financial crisis, with GDP falling by over
3% in 2008, nearly 7% in 2009, and less than 1% in 2010. Ireland entered into a
recession in 2008 for the first time in more than a decade, with the subsequent
collapse of its domestic property and construction markets. Property prices rose
more rapidly in Ireland in the decade up to 2007 than in any other developed
economy. Since their 2007 peak, average house prices have fallen 47%. In the
wake of the collapse of the construction sector and the downturn in consumer
spending and business investment, the export sector, dominated by foreign
multinationals, has become a key component of Ireland's economy. Agriculture,
once the most important sector, is now dwarfed by industry and services. In
2008 the former COWEN government moved to guarantee all bank deposits,
recapitalize the banking system, and establish partly-public venture capital
funds in response to the country's economic downturn. In 2009, in continued
efforts to stabilize the banking sector, the Irish Government established the National
Asset Management Agency (NAMA) to acquire problem commercial property and
development loans from Irish banks. Faced with sharply reduced revenues and a
burgeoning budget deficit, the Irish Government introduced the first in a
series of draconian budgets in 2009. In addition to across-the-board cuts in
spending, the 2009 budget included wage reductions for all public servants.
These measures were not sufficient. In 2010, the budget deficit reached 32.4%
of GDP - the world's largest deficit, as a percentage of GDP - because of
additional government support for the banking sector. In late 2010, the former
COWEN government agreed to a $112 billion loan package from the EU and IMF to
help Dublin further increase the capitalization of its banking sector and avoid
defaulting on its sovereign debt. Since entering office in March 2011, the new
KENNY government has intensified austerity measures to try to meet the deficit
targets under Ireland's EU-IMF program. Ireland achieved moderate growth of
1.4% in 2011 and cut the budget deficit to 9.1% of GDP. Although the recovery
slowed in 2012 because of weaker EU demand for Irish exports, Dublin managed to
trim the deficit to about 8.5% of GDP.
|
Source : CIA |
REGISTERED NAME & COMPANY SUMMARY
|
Company Name |
NORBROOK LABORATORIES (IRELAND) LIMITED |
Company Number |
IE073011 |
|
Registered Address |
ROSSMORE INDUSTRIAL ESTATE |
Operating Address |
Newry, bt35 6qq, Northern Ireland |
|
Website Address |
- |
|
|
|
Telephone Number |
0862538973 |
|
|
|
TPS |
No |
|
|
|
Incorporation Date |
08/01/1980 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
|
Type |
Private limited with Share Capital |
|
Date of Change |
- |
Filing Date of Accounts |
- |
|
Principal Activity |
Manufacturer of pharmaceutical products |
||
DIRECTORS/MANAGEMENT
|
Total Current Directors |
3 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
1 |
Current Directors
|
Name |
MARTIN PATRICK MURDOCK |
Date of Birth |
25/02/1962 |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
8 |
Function |
Director |
|
Appointment Date |
02/06/1997 |
|
|
|
Address |
15 WELL ROAD, WARRENPOINT, NEWRY, CO.DOWN BT34 3RS |
||
|
Name |
LORD BALLYEDMOND |
Date of Birth |
05/01/1944 |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
8 |
Function |
Director |
|
Appointment Date |
14/08/1980 |
|
|
|
Address |
BALLYEDMOND CASTLE, ROSTREVOR, CO. DOWN, BT34 3AG |
||
|
Name |
PATRICK FINTAN HUGHES |
Date of Birth |
07/02/1956 |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
6 |
Function |
Director |
|
Appointment Date |
13/04/2001 |
|
|
|
Address |
4 PINEVIEW, COMMONS ROAD, NAVAN, CO. MEATH |
||
NEGATIVE INFORMATION
CJ
|
Total Number of Exact CJs - |
0 |
Total Value of Exact CJs - |
€0 |
|
Total Number of Possible CJs - |
0 |
Total Value of Possible CJs - |
€0 |
|
Total Number of Satisfied CJs - |
0 |
Total Value of Satisfied CJs - |
€0 |
Exact CJ Details
There are no exact CJ details
Possible CJ
Details
There
are no possible CJ details
Writ Details
There are no writ details
Mortgage Summary
|
Outstanding |
2 |
|
Satisfied |
1 |
SHARE & SHARE CAPITAL INFORMATION
|
Share Capital |
€3 |
Top 20
Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
|
LORD BALLYMOND |
EUR |
1 |
ORDINARY |
1.27 |
|
NORBROOK LABORATORIES LTD |
EUR |
1 |
ORDINARY |
1.27 |
PAYMENT INFORMATION
Payment
Information Summary
|
Days Beyond Terms |
Trend Indicator |
Average
Payment Experience |
|
||||
|
Steady Improving Worsening |
Be the first to
leave a payment experience
|
|
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GROUP STRUCTURE & AFFILIATED COMPANIES
Statistics
|
Group |
11
companies |
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
Summary
|
Holding Company |
NORBROOK LABORATORIES LIMITED |
|
Ownership Status |
Intermediately Owned |
|
Ultimate Holding Company |
NORBROOK HOLDINGS LIMITED |
Group structure
|
Company Name |
|
Registered Number |
Latest Key Financials |
Consol. Accounts |
Turnover |
|
|
02258447 |
03.08.2012 |
Y |
£191,706,584 |
|
|
|
33204983 |
31.07.2011 |
N |
|
|
|
|
IE128703 |
03.08.2012 |
N |
|
|
|
|
NI007665 |
03.08.2012 |
Y |
£180,657,720 |
|
|
|
NI032757 |
31.07.2012 |
N |
|
|
|
|
03425483 |
03.08.2012 |
N |
|
|
|
|
NI027648 |
03.08.2012 |
N |
|
|
|
|
IE073011 |
03.08.2012 |
N |
|
|
|
|
01778942 |
03.08.2012 |
N |
|
|
|
|
NI014172 |
31.07.2012 |
N |
|
|
|
|
NI017640 |
03.08.2012 |
N |
|
FINANCIAL INFORMATION
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
03/08/2012 |
- |
- |
€12,143,671 |
- |
|
29/07/2011 |
- |
- |
€9,823,176 |
- |
|
31/07/2010 |
- |
- |
€7,781,288 |
- |
Profit & Loss
|
Date Of Accounts |
03/08/12 |
|
29/07/11 |
|
31/07/10 |
|
31/07/09 |
|
01/08/08 |
|
Weeks |
53 |
|
52 |
|
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
Consolidated A/cs |
N |
|
N |
|
N |
|
N |
|
N |
|
Turnover |
- |
|
- |
|
- |
|
- |
|
- |
|
Export |
- |
|
- |
|
- |
|
- |
|
- |
|
Cost of Sales |
- |
|
- |
|
- |
|
- |
|
- |
|
Gross Profit |
- |
|
- |
|
- |
|
- |
|
- |
|
Wages & Salaries |
- |
|
- |
|
- |
|
- |
|
- |
|
Directors Emoluments |
- |
|
- |
|
- |
|
- |
|
- |
|
Operating Profit |
- |
|
- |
|
- |
|
- |
|
- |
|
Depreciation |
€23,116 |
|
€21,839 |
|
€16,570 |
|
€16,969 |
|
€17,514 |
|
Audit Fees |
- |
|
- |
|
- |
|
- |
|
- |
|
Interest Payments |
- |
|
- |
|
- |
|
- |
|
- |
|
Pre Tax Profit |
- |
|
- |
|
- |
|
- |
|
- |
|
Taxation |
- |
|
- |
|
- |
|
- |
|
- |
|
Profit After Tax |
- |
|
- |
|
- |
|
- |
|
- |
|
Dividends Payable |
- |
|
- |
|
- |
|
- |
|
- |
|
Retained Profit |
- |
|
- |
|
- |
|
- |
|
- |
Balance Sheet
|
Date Of Accounts |
03/08/12 |
|
29/07/11 |
|
31/07/10 |
|
31/07/09 |
|
01/08/08 |
|
Tangible Assets |
€10,856,375 |
|
€8,902,490 |
|
€6,283,601 |
|
€4,693,370 |
|
€3,981,524 |
|
Intangible Assets |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Total Fixed Assets |
€10,856,375 |
|
€8,902,490 |
|
€6,283,601 |
|
€4,693,370 |
|
€3,981,524 |
|
Stock |
€1,821,124 |
|
€1,487,178 |
|
€1,878,292 |
|
€1,463,430 |
|
€1,639,925 |
|
Trade Debtors |
€2,369,433 |
|
€2,402,256 |
|
€2,389,161 |
|
€2,101,271 |
|
€2,238,711 |
|
Cash |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Other Debtors |
€58,240 |
|
€57,489 |
|
€38,558 |
|
€30,098 |
|
€56,761 |
|
Miscellaneous Current Assets |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Total Current Assets |
€4,248,797 |
|
€3,946,923 |
|
€4,306,011 |
|
€3,594,799 |
|
€3,935,397 |
|
Trade Creditors |
€94,991 |
|
€108,124 |
|
€460,272 |
|
€362,370 |
|
€399,887 |
|
Bank Loans & Overdrafts |
€1,353,004 |
|
€1,823,489 |
|
€1,769,076 |
|
€891,876 |
|
€1,233,150 |
|
Other Short Term Finance |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Miscellaneous Current Liabilities |
€1,496,170 |
|
€1,076,308 |
|
€559,002 |
|
€450,274 |
|
€539,601 |
|
Total Current Liabilities |
€2,944,165 |
|
€3,007,921 |
|
€2,788,350 |
|
€1,704,520 |
|
€2,172,638 |
|
Bank Loans & Overdrafts and LTL |
€1,370,340 |
|
€1,841,805 |
|
€1,789,050 |
|
€912,513 |
|
€1,254,664 |
|
Other Long Term Finance |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Total Long Term Liabilities |
€17,336 |
|
€18,316 |
|
€19,974 |
|
€20,637 |
|
€21,514 |
Capital &
Reserves
|
Date Of Accounts |
03/08/12 |
|
29/07/11 |
|
31/07/10 |
|
31/07/09 |
|
01/08/08 |
|
Called Up Share Capital |
€3 |
|
€3 |
|
€3 |
|
€3 |
|
€3 |
|
P & L Account Reserve |
€12,143,668 |
|
€9,823,173 |
|
€7,781,285 |
|
€6,563,009 |
|
€5,722,766 |
|
Revaluation Reserve |
- |
|
- |
|
- |
|
- |
|
- |
|
Sundry Reserves |
- |
|
- |
|
- |
|
- |
|
- |
|
Shareholder Funds |
€12,143,671 |
|
€9,823,176 |
|
€7,781,288 |
|
€6,563,012 |
|
€5,722,769 |
Other Financial
Items
|
Date Of Accounts |
03/08/12 |
|
29/07/11 |
|
31/07/10 |
|
31/07/09 |
|
01/08/08 |
|
Net Worth |
€12,143,671 |
|
€9,823,176 |
|
€7,781,288 |
|
€6,563,012 |
|
€5,722,769 |
|
Working Capital |
€1,304,632 |
|
€939,002 |
|
€1,517,661 |
|
€1,890,279 |
|
€1,762,759 |
|
Total Assets |
€15,105,172 |
|
€12,849,413 |
|
€10,589,612 |
|
€8,288,169 |
|
€7,916,921 |
|
Total Liabilities |
€2,961,501 |
|
€3,026,237 |
|
€2,808,324 |
|
€1,725,157 |
|
€2,194,152 |
|
Net Assets |
€12,143,671 |
|
€9,823,176 |
|
€7,781,288 |
|
€6,563,012 |
|
€5,722,769 |
Miscellaneous
|
Date Of Accounts |
03/08/12 |
|
29/07/11 |
|
31/07/10 |
|
31/07/09 |
|
01/08/08 |
|
Contingent Liability |
YES |
|
YES |
|
YES |
|
YES |
|
YES |
|
Capital Employed |
€12,161,007 |
|
€9,841,492 |
|
€7,801,262 |
|
€6,583,649 |
|
€5,744,283 |
Ratios
|
Date Of Accounts |
03/08/12 |
29/07/11 |
31/07/10 |
31/07/09 |
01/08/08 |
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
Current ratio |
1.44 |
1.31 |
1.54 |
2.11 |
1.81 |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
11.30 |
18.70 |
23 |
13.90 |
21.90 |
|
Equity in % |
80.40 |
76.40 |
73.50 |
79.20 |
72.30 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
0.82 |
0.81 |
0.87 |
1.25 |
1.05 |
|
Return On Capital Employed % |
- |
- |
- |
- |
- |
|
Return On Total Assets Employed % |
- |
- |
- |
- |
- |
|
Current Debt Ratio |
0.24 |
0.30 |
0.35 |
0.25 |
0.37 |
|
Total Debt Ratio |
0.24 |
0.30 |
0.36 |
0.26 |
0.38 |
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
Return on Net Assets Employed % |
- |
- |
- |
- |
|
ADDITIONAL INFORMATION
|
Auditors |
KPMG |
|
Auditor Comments |
The audit report contains no adverse comments |
|
Bankers |
BANK OF IRELAND |
Current Company
Secretary
|
Name |
MARTIN PATRICK MURDOCK |
Date of Birth |
25/02/1962 |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
8 |
Function |
Company Secretary |
|
Appointment Date |
01/01/1901 |
|
|
|
Address |
15 WELL ROAD, WARRENPOINT, NEWRY, CO.DOWN BT34 3RS |
||
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
11/06/2013 |
New Accounts Filed |
|
11/06/2013 |
New Accounts Filed |
|
08/06/2013 |
Annual Returns |
|
19/06/2012 |
New Accounts Filed |
|
19/06/2012 |
New Accounts Filed |
|
16/06/2012 |
Annual Returns |
|
02/06/2011 |
Annual Returns |
|
02/06/2011 |
New Accounts Filed |
|
13/07/2010 |
Annual Returns |
|
17/06/2010 |
Annual Returns |
|
17/06/2010 |
New Accounts Filed |
|
23/06/2009 |
Annual Returns |
|
23/06/2009 |
New Accounts Filed |
|
30/06/2008 |
Annual Returns |
|
30/06/2008 |
Annual Returns |
Previous Company
Names
|
No Previous Names found |
NOTES & COMMENTS
Commentary
|
No exact match CCJs are recorded against the company. |
|
|
There is insufficient data to indicate a change in this company's
percentage of sales. |
|
|
Net Worth increased by 23.6% during the latest trading period. |
|
|
A 17.6% growth in Total Assets occurred during the latest trading
period. |
|
|
There is insufficient data to indicate a change in this company's
pre-tax profit. |
|
|
The audit report contains no adverse comments. |
|
|
No recent changes in directorship are recorded. |
|
|
The company is part of a group. |
|
|
The company has changed its year end on multiple occasions. |
|
|
The movement in accumulated earnings would indicate that the company
made a profit after tax and other appropriations, including dividends. |
|
|
The company was established over 34 years ago. |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.17 |
|
UK Pound |
1 |
Rs.99.39 |
|
Euro |
1 |
Rs.83.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.