Bulmers Logistics says it is relatively pleased with its 2% margin for 2007, but has ambitious plans to boost turnover and profit in the next year. The company has posted gross profit of £7.1m on a turnover of £27m for the year ending 30 November 2007. This compares with £4.4m gross profit on £19.7m for the year ending December 2006.
Although the company's post-tax profit was just £279,000, it has boosted its asset base in the
past year from £1.9m to £8.4m. Managing director Jonathan Bulmer says: "We're trading strongly and still investing heavily in the business. We're heading for 3% by the end of this year, with an aspiration to five." Bulmer has been seeking strategic contracts to help the firm diversify. The first - a large fleet management deal - begins this week. The details are still confidential. Bulmer says similar contracts will follow.
The company has implemented a bespoke IT system this week that it expects will bring efficiency and a greater visibility of information. It has also just signed a national sub-contractor manager, who will be responsible for growing the contractor base from its current 10%. Bulmers intends to open more depots this year, as it did at Ipswich last summer. "It always takes time and money to get a new facility online, but we are learning from it each time," Bulmer says.
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