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Owens looking to purchase

Thursday 24 May 2007 12:00

South Wales haulier Owens (Road Services) is looking at the possibility of acquiring transport firms with around 30 vehicles. The company's managing director Huw Owen says: "We are looking at full acquisitions in certain areas." Owen revealed the com-pany's plans as Dafen-based Owens posted results its for the year to June 2006, showing a rise in turnover, pre-tax profit and operating profit. Turnover grew to £25.8m from £19.3m in 2005 while pre-tax profit rose to £124,119 from £99,008 and operating profit climbed to £693,116 from £610,976.

"I am personally a little bit disappointed because the effort put in by everybody hasn't been reflected in the profits," says Owen. "But we are very positive and so far this year we are in line with budget forecasts." He describes the 2005/06 financial period as a "tough year" even though the company's results improved and it has secured new contracts. "Put it this way, the high fuel prices were very difficult to pass on and the working time directive has increased the wages bill. On top of that we have invested heavily, not least on the health and safety side of the business, including the retraining of drivers."

Owens opened a new depot in Bridgend last year and has spent around £2m on rolling stock, including 28 new vehicles and 70 trailers. "We're optimistic but realise we can't take our eyes off the ball," says Owen. n Owens Road Services is the subject of a new weekly ITV programme called 'Truckers' and Owen says customer feedback has been "mind-boggling". The cameras filmed footage of many day-to-day scenarios including problems with parking in central London 'Truckers' is shown at 11pm on Thursday nights on ITV 1 Wales and on Sky.

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