News

The latest results show 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. Gross profit dropped to £193,315 in 2005 from £1.58m 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 it adds that  the company is being "restored to profitability" following a management and business restructure and renegotiation of contracts.

Mill Transport has guaranteed the debt owed to MTL Logistics, controlled by Mill Transport directors Shaun and Sharon Goulding, after MTL's major customer Celsius First closed in March this year. Despite the losses, 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. The company paid an interim ordinary dividend of £80,000 during 2005.