CEL Group, which owns Felixstowe-based W Carter (Haulage) and has a share-holding in fellow Felixstowe operator Deben Transport, reports a pre-tax profit of £2.2m in the year to 31 August 2007, slightly down on the previous year's figure of £2.6m.
The fall in profit was despite turnover rising by a little over 8% to £54.2m. It says that it expects further growth in the current financial year due to "significant investment in its fleet". However, this has increased net debt from £3.8m to £7.4m.
Its main subsidiary, W Carter, also showed healthy profit during the period, with pre-tax profit nudging upwards to £1.67m and turnover also rising by 15% to £44m from £38m the year before.
Meanwhile, Deben Transport also saw pre-tax profit and turnover rise slightly in the same period to £685,448 and £16.7m respectively.
