Merchant Trade Finance Limited and Merchant Commercial Finance Limited
today released their annual accounts for the fifteen months ended 29 February 2000, which was their first period of trading. Merchant Commercial Finance’s turnover was recorded at Ј3,456,044 and Merchant Trade Finance’s turnover was Ј1,197,574. For both of these companies, turnover is defined as the invoiced value of goods and services plus interest income.
Pre taxation losses of Ј138,321 were recorded for Merchant Commercial Finance and Merchant Trade Finance recorded a pre taxation profit of Ј1,195.
‘The results are modest, but business is steadily improving’ according to Chris Grunsell, managing director of both companies. The companies are 85% owned by Hoopoe Investments Ltd and 15% owned by Mr. Grunsell.
