Mill Transport has reported a pre-tax loss of £751,145 in the year to December 31, 2005, a tumble from the pre-tax profit of £618,403 in 2004. An operating loss of £934,119 also hit the haulage contractor in 2005, down from a profit of £985,780 in 2004. The directors' report says the results are due to "unanticipated losses on certain new contracts" and "a step change in costs following the growth in the size of business".
But a management and business restructure and contract reorganisations
means the company is being "restored to profitability". Staff headcount increased by 15 to 165 in 2005, while payroll costs soared by one-third in 2005, to £4.36m, from £3.24m in 2004. Directors' emoluments grew, to £203,941 in 2005 from £108,000 in 2004.
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