Canute Haulage group is forecasting a hard year ahead after reporting a £600,000 drop in pre-tax profit. The haulage contractor did increase turnover by £1.7m to £65.1m for the year to July 2007. However, pre-tax profit fell almost 24% to £1.9m, meaning its margin was reduced to 3%, compared with 4% in 2006.
Rob Norden, company secretary for the group, says the price of fuel impacted on its performance and lists congestion and driver costs, as well as the driver shortage, as having an effect.
He adds: "The market is getting harder because of lower margins. We hope to increase turnover a little this year."
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