Cotton is still king for leading company; Private business The Big Feature IN ASSOCIATION WITH Rensburg Sheppards.

Byline: BARRY TURNBULL

A SMART, purpose-built office located on the banks of the Mersey at Birkenhead has emerged as a leading player in the cotton trade.

Weil Brothers & Stern works on behalf of buyers and sellers of the commodity around the world, resulting in a turnover of more than EUR89m last year.

With world cotton demand growing due to China's insatiable appetite there is no shortage of business to be done.

The Stern family started up in the business in England back in 1886 whilst the Weil's did so in the United States in 1878. In 1991 the families teamed up to create a joint operation.

In May the directors filed last year's figures at Companies House, reporting the results in US dollars. The turnover of EUR89m resulted in gross profits of EUR2.5m and pre-tax profits of EUR235,066.

The directors' report states: "The group's principal activity continues to be that of international cotton merchants and brokers. The directors consider the profit achieved on ordinary activities before taxation to be acceptable in view of market conditions.

"The directors have decided to report the results of the company in US dollars as this more accurately reflects the trading undertaken. The directors do not recommend a dividend but that retained profit be added to group reserves."

In 2006 the company turnover was EUR94.8m with a loss before tax of EUR590,258.

Last year staff numbers remained steady at 21 with wages and associated costs at EUR2.2m, Directors remuneration was EUR1.2m, up from EUR885,276.

The consolidated financial statements include the results of Weil Brothers & Stern and subsidiaries Anglo Tajik Trading and ZCC Cotton.

The company buys cotton from virtually every growing country and ships and sells to virtually every consuming country.

The main base of the company is in Birkenhead in purpose-built offices facing the Liverpool waterfront - an important landmark in the history of cotton. This office, together with an office in Paris, are responsible for the sourcing and sale of cottons from the rest of the world.