Business

Tea maker Punjana reports net profits of over £2 million

Joint Managing Directors Ross and David Thompson pictured at the Punjana factory celebrating their Great Taste award wins
Gareth McKeown

BELFAST tea maker Punjana has reported a net profit of over £2 million and share holder funds over £3 million over the past year.

The company's financial accounts for the year ending August 31, 2016 show a 10 per cent fall in the profit and loss account from over £2.3 million in 2015 to £2.1 million, while shareholders' funds also fell by six per cent from £3.3 million to £3.1 million over the year.

Although profit before tax and turnover is not listed within the accounts the figures show the company remains in rude financial health.

Staff numbers reduced slightly over the year to 44 over the year, with one less employee listed within the firm's selling and distribution team.

Meanwhile directors' payments in the year totalled £411,398, an increase of over three per cent on 2015.

Punjana is operated by the Thompson family and has been in business since the 1890s.

The family-run company distributes tea throughout Ireland and Britain under the Punjana and Thompson Family Teas brands.

The firm operates from a purpose-built factory in east Belfast which opened in 1996 and this facility can turn out 2,000 tea bags every minute while the company claims 100,000 cups of its tea are drunk every hour.

Last month the tea maker was recognised at the 14th Northern Ireland Food & Drink Awards, taking home the People's Choice Award, while last year it won the maximum three stars at the prestigious UK Great Taste Awards .

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