Somerset haulier RT Keedwell's pre-tax profits have halved to £371,662 for the year ended 31 October 2006 from £879,426 in 2005. Operating profit fell to £426,679 from £952,320 in 2005. However, turnover increased to £10.4m from £10.2m in 2005. Despite the figures the directors' report describes the company as having had "another successful year".
The directors added that the principal risks to Keedwell include "competition from both national and independent hauliers, oil prices and employment
of additional LGV drivers". Fuel prices are expected to remain high in 2007 but the company "remains confident that we can focus on improving margin". Staff costs increased to £2.8m in 2006, compared with £2.5m. Directors' emoluments were £71,110 in 2006, up from £67,430 in 2005.
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