Edwards Logistics blames a decline in sales and higher UK operating costs for its drop in profit. Operating profit fell to £417,010 for the year to December 2006, from £468,124 in 2005. Turnover dropped to £20.3m, from £22.4m the previous year. The firm says the total average number of emp-loyees fell by 15%, as it "continues to streamline its administration functions".
Its financial statement adds that operating profit fell due to a "fall in sales and higher fleet operating costs in the
UK. The company is to continue its review of its third-party business options, but the focus will remain on providing the value and service levels expected of its group customer base." Nobody at Edwards was available for comment as MT went to press.
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