Kadima back in black1 December 2011
Nottingham textiles, property management and footwear business Kadima Holdings has reported a return to profit. Turnover has also increased to £165m.
Kadima is the immediate parent of Advanced Textiles, Courtaulds (Footwear), Courtaulds Brands, Cuk Clothing and Kadima Properties and has about 850 employees.
In its annual accounts, covering the year to 30 June 2011, the holding company revealed profits of £165.49m - up from £153.46m in the year before. Its gross margin remained unchanged at 18 per cent.
Profit before tax and non-recurring items was also £1.88m - up from a £97,000 loss from the previous year.
The group said it had a combined banking facility of £26.5m - up from £20m in 2010 - and that it is available until this month (December 2011).
It said it had obtained support related parties that repayment of related loans will not be demanded until October 2012 at the earliest.
The directors did not recommend the payment of a dividend.