Irish Sea Ro-Ro pioneer Roadferry experienced an 18% fall in turnover last year, although pre-tax profit rose more than 500% to £1m. The Preston-based logistics business, which employed 126 staff for the year ending 31 March 2007, reported a turnover of £49.4m, down from £60.2m the year before. It went on to dispose of its 60% shareholding in subsidiary business Palletpool in November last year for £712,000, making a £556,000 profit on disposal.
Jim McGhee, Roadferry managing director,
says: "Trading was reasonable. We are in a tight margin area, but we are back to a performance that we are ok with." McGhee predicts turnover will fall again next year: "[It will be] down a million or so, because we have withdrawn from an area of non-profitable business. We have decreased turnover in order to maintain our margins."
Reed Business Information Limited.©2008
