Print Published 19th Apr 2017, 15:58

Writtle booked £5.2m profit on Creo sale

Writtle Holdings booked a profit of almost £5.2 million from the sale of its majority stake in Creo Retail Marketing Holdings to the publicly quoted packaging group D S Smith last year, while at the same time improving its operating profit margin in the continuing businesses.

The Creo disposal reflected a desire by Writtle’s private equity backers, first disclosed last September, to realise some cash from their investment in the group that was inherited when Writtle bought Loewy Group in 2011.  The investors’ stated aim is to realise their holdings by the end of 2018 (see Writtle’s private equity investors opt to sell one third of holdings).