Lexon records "significant" profit boost
Worcestershire pharmaceutical wholesaler Lexon had a "significantly improved" performance in the year to April 2011, according to its financial reports.
In documents seen by Insider, the company reported a rise in profit and turnover for the 12-month period.
Turnover was boosted 13.7 per cent to £98.9m while pre-tax profit rose from £4.6m to £5.4m.
Lexon sells its pharmaceuticals products to retail outlets and supplies its own-brand line to sell on to other pharmaceutical wholesalers and chemists.
Looking ahead, the company said it would continue to focus on its "excellent service levels and competitive pricing" to retain its share in the market.
Over the year, Lexon spent £280,399 on research and development, a huge rise on its 2010 figure of £33,574.
The company had £454,083 cash at the bank at the end of April, a lift on the £180,964 which was accounted for the year earlier.
