South Wales haulier Owens (Road Services) has released its latest financial results - and again criticised the government over its proposed 2p/litre fuel duty increase. Turnover at the firm, which has bases in Llanelli and Port Talbot, increased to £28m for the 12 months to June 2007 - up from £25.8m in the previous 12-month period.
Operating profit also rose to £910,348 in 2007 from £693,116 in 2006. However, pre-tax profit dropped to £78,709 from £124,119 in the previous 12 months. Last
month, Owens claimed it could be forced to cut up to 100 jobs if Chancellor Alistair Darling went ahead with the planned 2p/litre rise from 1 April.
Ian Jarman, environmental and legislation manager at Owens, says: "The company is expected to steadily increase the volume and nature of its existing activities. "However, we are naturally watching the pennies due to our concerns over the proposed 2p/litre rise in duty. We want the plan to be scrapped." No dividends will be distributed for the year to June 2007, reports the firm.
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