Palletforce chief executive Mick Scarlett is forecasting growth in the pallet network sector after a slow beginning to last year "has certainly gained momentum". In his review, published in the company's annual report, he states Palletforce is has been able to "produce excellent financial results for its members". Pre-tax profit for Palletforce is up 22.5% for the year to August 31, 2006, to £1.5m from £1.3m in 2005. Operating profit grew by 25% to £1.4m in 2006, while gross profit rose by 15%
to £4.5m in 2006 from £3.9m in 2005. Turnover at the pallet network grew to £5.8m in 2006, 15.6% up on 2005 turnover of £5.0m.
The network handled 1.3 million pallets last year, says Scarlett, with a forecast for volumes to increase to 1.5 million by the year to August 2007. An efficiency programme to gain new members and consolidate delivery postcodes has been successful, he adds. Ten new members signed up in the 2006 financial year, with a further six due to come on board in the next six months. Staff numbers were up 17.5% in 2006, to 74 from 63 in 2005. Payroll costs rose by 22.5% to £2.1m in 2006 from £1.7m in 2005, but directors' emoluments dipped to £263,162 in 2006 from £271,267 the year before. Dividends for 2006 were worth a total £539,882, up from £374,765 in 2005.
