Dividends windfall for Mersey timber merchant owner
Owner of Liverpool city region timber merchant pockets more than £1.75m in dividends over two years as the firm reports another profitable year and embarks on an expansion. Tony McDonough reports
Owner of Mersey timber merchants pockets £750,320 dividends windfall as the company embarks on an expansion.
Based in Bootle, close to Liverpool docks, Edmund A Stephens (EAS) was founded in 1978 by Edmund and Linda Stephens. Now the business is owned and run by their son Mick Stephens along with his wife and two sons.
In its annual accounts for the 12 months to November 30, 2024, just filed on Companies House, EAS is reporting a small rise in revenues to £17m from £16.7m in the previous year. Pre-tax profits fell to £1.08m from £1.09m last year.
In the previous year the company paid just over £1m in dividends taking the total payout over the two years to more than £1.75m. Net assets are up slightly from £3.1m to £3.2m.
In the annual report Mick Stephens said: “The results for the year and the financial position at the end were considered satisfactory by the directors, with sales decreasing on the prior year.”
EAS supplies a range of timber products to the building industry including fencing, decking, packaging and flooring
In December 2024 LBN revealed the business had secured a seven-figure funding package from NatWest to acquire a second Merseyside site and Bromborough in Wirral. This is to support its expanding customer-base in Chester and North Wales.
Speaking at the time Mick said: “For more than four decades, we have been providing a range of timber products to customers to fit their needs.
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“My parents shared their expertise and passion for their business with me, and I am continuing in that tradition today, working alongside my wife and children to further develop the business, and also explore other opportunities.”
In addition to running EAS, which also provides bespoke cutting services and employs around 60 people, Mick and his nephew have founded Paragon KBB. This is a home improvements venture specialising in bespoke kitchens, bathrooms and bedrooms.