News

Maritime Transport is confident that business will grow in the next year.

And the directors state in the company's latest financial results that they "are very satisfied with the performance of the business in 2005".

They add that the company has successfully renewed contracts with all existing customers and added two clients.

Pre-tax profit for the container haulage company has increased by 31% to £2.74m in the 13 months to December 31, 2005, up from £2.09m for the year ended  November 23, 2004. Operating profit has grown by 42% to £2.97m in 2005 from £2.08m in 2004 and gross profit was up by 24% to £11.2m in 2005 from £9.03m in 2004.

Owner and managing director John Williams tells Motor Transport: "I think the results reflect the passion and commitment of the people employed by the company. Importation of containers in the UK continues strongly in 2006 and we expect the same in 2007."

Maritime Transport increased turnover by 27% in 2005, to £56.6m, up from 2004's revenue of £44.7m. Total assets minus current liabilities were worth £8.20m in 2005, up from £5.60m in 2004.

Average staff numbers for Maritime Transport during 2005 increased by 14% to 481 from 423 in 2004. The company took on 49 new drivers during 2005 increasing the headcount to 384, from 335 in 2004. "This is entirely in keeping with our continued growth and developing our infrastructure," Williams says. Total staff costs soared to £16.8m in 2005 from £11.8m in 2004.

Directors' emoluments for 2005 were worth £415,000 with no emoluments paid in 2004. The company declared a dividend of £1.5m on ordinary shares in 2005, up from £150,000 in 2004.

Three new directors for Maritime Transport were appointed on January 1, 2005, and their pay is reflected in the company's results. Williams' pay is shown in the results for parent company Maritime Group, where directors' remuneration is £417,000 for 2005, up from £139,000 in 2004.