Home   Kent Business   County news   Article

Paper maker Swan Mill in Swanley looks for takeovers after growth in Asian markets

By Chris Price

A napkin and Christmas cracker maker is eyeing potential takeovers after growth in Asian markets.

Bosses at paper manufacturer Swan Mill in Swanley, which trades as Swantex, are feeling confident after turnover increased 4% to £56.4m, its latest accounts show.

Although UK sales fell 2% to £44.7m in the year to the end of March 2017, international sales more than made up for this with a 29% rise to £11.8m.

Swan Mill makes paper products like napkins and Christmas crackers
Swan Mill makes paper products like napkins and Christmas crackers

Pre-tax profits slipped 2% to £4.6m but bosses said its Swantex Asia division had another good year, as did its subsidiaries Castleview Enterprises and Ling Design.

In his company report, finance director Graham Rogers said the business was “capitalising on the synergies and cross selling opportunities”.

He said: “The directors believe the extremely low gearing and strong cash flows of the business would support further capital investment and acquisitions and will continue to assess the market with a view to capitalising on any well positioned opportunities as they arise.”

Established in 1892, Swan Mill is based on a five-acre site and employs about 280 people.

The company once again contributed £660,000 to its defined benefit pension fund as it continues a four-year recovery plan to address a £2.2m deficit in its scheme, which was closed to new entrants in 2003. It expects to contribute £700,000 this year.

It paid a dividend of £1m, the same as the previous year.

Join the debate...
Comments |

Don't have an account? Please Register first!

The KM Group does not moderate comments. Please click here for our house rules.

People who post abusive comments about other users or those featured in articles will be banned.

Thank you. Your comment has been received and will appear on the site shortly.


Terms of Comments
We do not actively moderate, monitor or edit contributions to the reader comments but we may intervene and take such action as we think necessary, please click here for our house rules. If you have any concerns over the contents on our site, please either register those concerns using the report abuse button, contact us here, email multimediadesk@thekmgroup.co.uk or call 01634 227989.

Follow us

Like Us on Facebook

Most popular

Kent Travel News

Close This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.Learn More