Willenhall, West Midlands-based Aspray Transport plans to double its turnover as part of an ambitious five-year business plan, even though general trading conditions "remain challenging". Aspray specialises in warehousing and next-day distribution. Last year it invested £8m in a new hub at its HQ and upgraded seven of its nine other depots.
The firm's pre-tax profit for the financial year ending 31 December 2005 fell to £446,069 from £503,218 the previous year, but overall profit after
taxation rose from £250,000 to £604,000 in the same period. The directors blame "sharp increases in energy, legislation and fuel costs" for the tough business environment. However, while admitting that the financial results will be adversely affected for up to two years, they remain optimistic about the business plan.
This includes doubling the firm's turnover to more than £40m by 2010 and expanding the fleet from 300 to 450 vehicles. MD Stuart Laight predicts that profit and sales will both be up for 2006, adding: "Our operating profit was up in 2005 (from £725,445 to £856,853) and now that the infrastructure is complete we're confident about doubling turnover by the end of 2010." Aspray Logistics was launched at the end of 2005 to fulfil customers' supply chain needs with added-value services such as pick and pack.
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