Elddis Transport (Consett) will own all of its vehicles by the end of 2007, says managing director Nigel Cooke. The firm has spent the past two years moving away from leasing vehicles to purchasing, buying more than 60 trucks in 2006. Another 13 Euro 4 vehicles are due on the road by this October. "We feel it's a better option to buy vehicles as it gives us more flexibility," Cooke says.
The company predicts strong foundations for the 2007 financial year after an improvement in warehousing
operations on the back end of 2006. "It's business as usual. We're keeping our heads above water," Cooke says, adding that during 2007 "we will keep looking and keep working hard to try and find business". Pre-tax profit for Elddis rose by 9% for the year to December 2006, to £215,358 from £198,226 in 2005. But operating profit dropped to £176,780 in 2006 from £251,743 the year before. Turnover hit around £25m in 2006 which, says Cooke, is a growth of 10% on the previous year.
While the general haulage side is still the firm's biggest earner, the radial distribution arm was the largest growing in 2006, benefiting from several new contract wins. Cooke says: "It's been very successful."
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