New agents lift Farepak

Click to follow
The Independent Online
AN INCREASE in the number of sales agents enabled Farepak, the Christmas hamper company, to record a 30 per cent rise in taxable profits in the year to 30 April, writes Robert Cole.

Pre-tax profits were pounds 4.8m, compared with pounds 3.7m previously. Farepak sold 705,000 hampers for Christmas 1991, up from 600,000 the year before.

The company also had 50,000 agents on its books, up from 40,000, as high unemployment provided a larger pool of people willing to take on the commission-only work.

Half of Farepak's turnover comes from its two other operations - cooking and selling pre-packed meat and running a travel business.

Both these divisions contributed reduced profits.

Earnings per share and the total dividend rose in line with group profits. Earnings were 14.3p compared to 11.1p and the dividend is 5p against 3.87p. The shares were down 3p at 253p.