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Tangerine group increases employee profit share bonus as turnover rises
Following another successful year of trading, Tangerine Group has once again rewarded employees with an annual profit share bonus that totals £500,000.
The bonus pool, which has increased by £100,000 more than last year, has been distributed amongst our employees with over two years’ service in recognition of their continued contribution to the business’ development. The pool is distributed based on length of service, with the Group’s longest serving employees receiving substantial payments.
It is the 17th consecutive year we have made such a payment to our employees and follows another year of continued growth. For the financial year ending June 2023, our Group recorded a turnover of £40.9m, up from £37.4m the previous year.
A total of 57 employees at the Group, at our headquarters in Lytham which includes animal health and nutrition brands VetPlus, Agri-Lloyd and Farmsense, will receive the bonus, seventeen of whom will take home the maximum payment of £10,000.
In addition to supporting our employees, more than £1.6m of our Group’s profits are set to be reinvested back into the business to support product development, further overseas expansion, and significant upgrades in our manufacturing facilities.
David Haythornthwaite, chairman of Tangerine Group, said: Due to the hard work and continued efforts of our fantastic team, and despite rising energy costs and interest rates having a huge impact on our operating costs, we have once again been able to grow the business and maintain our profits at 2022 levels.
All our employees make an invaluable contribution to the business and overall success of the Group, and this makes it incredibly easy to reward them for the 17th year in a row.
Steve Collier, who is in his 23rd year with the company commented: It’s been amazing to be part of this journey. When I started there were just three of us working at a shed in Freckleton and look at us today. David has always been very generous with his team and once again I’m very grateful for this as it makes a huge difference to me and my family.
We are currently recruiting for a range of UK & International roles across a number of our businesses. For more information on Tangerine Group and our current vacancies, visit: www.tangerineholdings.co.uk