Directors at CM Downton say they are "very upbeat and enthusiastic about the future" despite pre-tax profit slipping slightly for the year to June 30, 2006. Pre-tax profit for the Gloucestershire-based haulier fell to £738,098 from £903,398 in 2005 while turnover for the group - including the share of joint venture sales - rose to £32.9m from £26.4m. Group operating profit fell to £749,356 in 2006 from £1.1m the previous year.
Managing director Andrew Downton says the results reflect a
trading year when the price of fuel rocketed and labour costs increased substantially following the implementation of the working time directive. He says that although margins are always tight in the haulage sector, rates appear to be hardening.
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