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The Palletways Group has revealed it will have all three of its European networks inter-operable with its UK business by the summer, as it reports a 19% increase in turnover for the 12 months to 31 May 2007. Group turnover rose to £109m compared with £91m for the previous 12-month period, while earnings, before interest, tax, depreciation and amortisation (EBITDA) went up slightly to £2.9m from £2.8m last year.

Meanwhile Palletways (UK) reported profit after tax of £3.2m compared with £2.1m  in 2006, on turnover of £105.8m (£91.5m), while EBITA rose to £4.3m from £3.5m. To date, the group's operations outside the UK include a branch in the Netherlands, Spain, and Italy after the company acquired Palletways Italia in February 2007.

Palletways handles around 80,000 pallets a week via nine hub facilities. James Wilson, chief executive of the Palletways Group, says: "Our focus this year is to continue to expand our European operations we plan to have all four networks inter-connected by the summer and want to add another 30 members to our overseas networks."

Palletways currently has around 250 members in total, with 110 in the UK. Asked what challenges the group faces this year, Wilson replies: "Our challenge is how to digest the growth, as we are growing very, very quickly. "In the UK, it is to distance ourselves ahead of the competition and to maintain growth in what may be a difficult economic climate."