PROGROUP BOARD LIMITED

1. PROGROUP BOARD LIMITED 2018-11-27 → present
2. PROWELL LTD 2006-12-04 → 2018-11-27

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Rödl & Partner Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Progroup Board Limited is primarily financed through an intercompany loan from Progroup Board GmbH. Progroup Board GmbH receives all necessary financing from Progroup AG. Under the existing credit agreements, Progroup AG and its subsidiaries have transferred extensive securities to bondholders and banks. The bond conditions and credit agreements contain provisions under which the bondholders and banks would be entitled to a right of termination as well as to a realisation of the securities in the event of the occurrence of a significant deterioration of the profitability, financial and assets situation of the Group or the failure to fulfil certain credit conditions. The financing of Progroup AG and Progroup Board Ltd could be detrimentally affected, if the external economic environment were to deteriorate further, for instance as a consequence of the government debt crisis, and the bond and credit conditions could not be fulfilled for this reason. This could also result in liquidity risk. The company reached very good sales results in the past years and used this time of growth to establish a strong financial structure and build financial reserves. Consequently, the company has a very solid financing situation and the existing credit contracts are designed in a crisis proof manner. The company possess sufficient liquidity reserves to remain well financed for a long time even in dire times.”

Significant events

• “The company's principal activity since 2009 has been the manufacture and sale of single and double-wall corrugated boards for the packaging industry. There have been no changes to the principal activity in the year.”
• “The company wants to seize the opportunities for growth in the packaging business. Within the framework of the Two Twentyfive strategy, Progroup has defined a clear goal, namely to continue to expand its leadership in the market for corrugated sheetboard in Central Europe. Specifically, Progroup is striving to double its sales volume of corrugated board by 2025 compared to 2015 and increase its own level of paper production by 75%.”
• “There have been no events or circumstances subsequent to the year-end which requires adjustment or disclosure in the financial statement or the notes hereto.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

1

last 24 months

Officers appointed

2

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +4.1%

  £123,383,786 → £128,450,210

• Cash

  +18%

  £4,986,297 → £5,885,270

• Net assets

  +12.4%

  £8,821,741 → £9,912,677

• Employees

  +4.7%

  64 → 67

• Operating profit

  +3,923.2%

  -£89,419 → £3,418,708

• Profit before tax

  +153.5%

  -£5,466,628 → £2,926,790

• Wages

  +2.6%

  £3,540,702 → £3,631,566

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers