The Accounts · daily brief
9 September 2026
Lenzing calls time in Grimsby, prestige spirits slip
The takeaways
- Lenzing Fibers Grimsby filed on a break-up basis after its parent announced plans to shutter the site
- Maritime Transport tripled its operating profit to £16.2m as it absorbed two fellow subsidiaries
- Turnover fell 15% to £758.3m at Edrington holding entity The 1887 Company alongside a drop in prestige sales
Hiring signals · who grew, who shrank
Hiring
- Starlinks Global Limited 57 → 81 staff ▲ +42% staff cost +40%
- Black Tomato Limited 43 → 54 staff ▲ +26% staff cost +10%
Cutting
- Suffolk Life Pensions Limited 131 → 67 staff ▼ −49% staff cost −51%
- Gardiner, Sons & Co., Limited 53 → 37 staff ▼ −30% staff cost −18%
Average headcount from the accounts filed yesterday — a look back at last year's payroll, not a live hiring tracker.
Filing of note
Lenzing Fibers Grimsby Limited
Operating from Grimsby, the company serves as the UK manufacturing arm of the Austrian-listed Lenzing Group, producing wood-based cellulosic and specialty fibres for the textile and nonwovens markets under brands such as Tencel and Veocel.
Filed on a break-up (non-going-concern) basis.
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £98.8m | £107.3m | ▼ −8% |
| Gross profit | £4m | £29.5m | ▼ −87% |
| Admin expenses | £8.7m | £10.5m | ▼ −17% |
| Operating profit | −£4.1m | £19.1m | ▼ −122% |
| Finance costs | £190k | £133k | ▲ +43% |
| Profit before tax | −£3.7m | £19.4m | ▼ −119% |
| Net profit | −£1.9m | £14.3m | ▼ −113% |
| Cash & balance sheet | |||
| Cash | £36.1m | £27.8m | ▲ +30% |
| Net assets | £100.3m | £102.2m | ▼ −2% |
| People & pay | |||
| Avg. headcount | 235 | 235 | ▲ −0% |
| Staff cost | £15.7m | £15.9m | ▼ −1% |
| Director pay | £275k | £265k | ▲ +4% |
| Highest-paid director | £176k | £117k | ▲ +50% |
Today's final filing arrives on a break-up basis. The UK manufacturing arm of the Austrian Lenzing Group swung to a £4.1m operating loss as turnover fell 8% to £98.7m. The strategic report cites production disruptions and tariff uncertainty, alongside a wider structural shift: the parent group has announced its intention to cease production at the Grimsby site by 2027.
Mms Uk Holdings Limited [1]
The company operates as a UK holding entity for various advertising, marketing, and communications agencies, including Leo Burnett and DigitasLBi, and is a subsidiary of the French multinational communications group Publicis Groupe.
Steady growth
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £1.5bn | £1.4bn | ▲ +7% |
| Operating profit | £214m | £206m | ▲ +4% |
| Profit before tax | £110m | £95m | ▲ +16% |
| Net profit | £73m | £63m | ▲ +16% |
| Cash & balance sheet | |||
| Cash | £101m | £81m | ▲ +25% |
Publicis's UK holding company saw turnover tick up 7% to £1.48bn, with operating profit tracking just behind, rising 4% to £214m. The filing notes a trade shock and persistent inflation in the wider market, though the figures remained steady during the period. A £43m tax charge was booked for the year.
London North Eastern Railway Limited [2]
Trading as LNER, the business is a state-owned train operating company that provides inter-city passenger services on the East Coast Main Line under the control of the Department for Transport.
Headcount drag
| Line | FY26 | FY25 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £1.1bn | £1.0bn | ▲ +5% |
| Operating profit | £20.5m | £20.2m | ▲ +2% |
| Finance costs | £15.5m | £16.5m | ▼ −6% |
| Profit before tax | £7.9m | £8.7m | ▼ −10% |
| Net profit | £5.2m | £6.1m | ▼ −14% |
| Cash & balance sheet | |||
| Cash | £104m | £125.8m | ▼ −17% |
| Net assets | £25.1m | £24.4m | ▲ +3% |
| Dividends paid | £4.5m | £20m | ▼ −78% |
| People & pay | |||
| Avg. headcount | 3,890 | 3,572 | ▲ +9% |
| Staff cost | £210.7m | £192.2m | ▲ +10% |
| Director pay | £1m | £1m | ▼ −1% |
| Highest-paid director | £274k | £266k | ▲ +3% |
Turnover at the state-owned operator passed the billion mark, rising 5% to £1.06bn, but operating profit barely moved at £20.5m. The period saw an expansion on the payroll: headcount rose by 9% to 3,890, while total staff costs increased by £18.4m. A new timetable was introduced, described in the accounts as the most substantial update on the route in a decade.
The 1887 Company Limited [3]
The 1887 Company Limited is a holding entity within the Edrington spirits group, jointly owned with William Grant & Sons, which oversees various Scotch whisky distilling, blending, and distribution subsidiaries.
Prestige squeeze
| Line | FY26 | FY25 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £758.3m | £895.6m | ▼ −15% |
| Gross profit | £278.5m | £320.4m | ▼ −13% |
| Admin expenses | £28.4m | £45.5m | ▼ −38% |
| Operating profit | £250.1m | £274.9m | ▼ −9% |
| Finance costs | £32.1m | £46.5m | ▼ −31% |
A contraction for the Edrington spirits holding entity, where turnover dropped 15% to £758.3m and operating profit fell 9% to £250.1m. The filing attributes this to a reduction in prestige product sales, though core ranges held their ground. The year also saw the disposal of The Famous Grouse and Naked brands as the group narrows its focus on ultra-premium spirits.
Ses (Engineering Services) Limited [4]
Operating as a subsidiary of the Wates Group, the company provides mechanical, electrical and public health building services and infrastructure solutions for commercial construction projects.
Admin heavy
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £590.4m | £463.7m | ▲ +27% |
| Gross profit | £46.5m | £30m | ▲ +55% |
| Admin expenses | £36.8m | £21.8m | ▲ +69% |
| Operating profit | £9.8m | £8.2m | ▲ +19% |
| Profit before tax | £9.9m | £9.3m | ▲ +7% |
| Net profit | £8.8m | £6.5m | ▲ +35% |
| Cash & balance sheet | |||
| Cash | £19.9m | £16.1m | ▲ +23% |
| Net assets | £23.5m | £14.7m | ▲ +60% |
| People & pay | |||
| Avg. headcount | 1,160 | 1,228 | ▼ −6% |
| Staff cost | £87.7m | £80.9m | ▲ +8% |
| Director pay | £836k | £210k | ▲ +298% |
| Highest-paid director | £396k | £210k | ▲ +89% |
A top-line surge for the Wates Group subsidiary, with turnover jumping 27% to £590.3m. Gross profit leapt 55% to £46.5m, but a 69% rise in administrative expenses accompanied a more modest 18% operating profit gain to £9.7m. The accounts carry a clean audit, backed by a letter of support from the parent to maintain the going-concern status.
Maritime Transport Limited [5]
Maritime Transport Limited is a UK road freight and logistics provider based in Felixstowe, operating as a subsidiary of Maritime Group Limited.
Tripled profit
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £488.6m | £421.7m | ▲ +16% |
| Gross profit | £113.3m | £100.1m | ▲ +13% |
| Admin expenses | £100.2m | £95.7m | ▲ +5% |
| Operating profit | £16.2m | £5.2m | ▲ +213% |
| Finance costs | £14.5m | £1.9m | ▲ +665% |
| Profit before tax | £2.4m | £7.1m | ▼ −67% |
| Net profit | £1.2m | £3.6m | ▼ −66% |
| Cash & balance sheet | |||
| Cash | £2.8m | £23m | ▼ −88% |
| Net assets | £130.8m | £129m | ▲ +1% |
| People & pay | |||
| Avg. headcount | 3,205 | 2,857 | ▲ +12% |
| Staff cost | £194.5m | £174.1m | ▲ +12% |
| Director pay | £12.7m | £13.3m | ▼ −4% |
| Highest-paid director | £3.8m | £3.9m | ▼ −2% |
A highly productive year for the logistics provider, which saw operating profit triple to £16.2m alongside a 16% rise in turnover to £488.5m. The growth reflects the absorption of the trade and assets of two fellow subsidiaries, while average headcount rose 12% to 3,205. The filing notes £84m invested in operational infrastructure, including new fleet vehicles and a rail terminal expansion.
A reminder that prestige is fleeting, but a break-up basis is forever.
Sources
- Mms Uk Holdings Limited
- London North Eastern Railway Limited
- The 1887 Company Limited
- Ses (Engineering Services) Limited
- Maritime Transport Limited