Two companies that merged in March to become the new Culina Logistics have released their last sets of figures as independent companies. The companies, the old Culina and Baylis Logistics, had differing financial fortunes in their last year. Culina made a £3.5m profit on a turnover of £90m, while Baylis Logistics suffered a £2.5m pre-tax loss on turnover down to £34.8m in the year to 31 March (2007: £49.1m).
The company says
that one of the reasons for this loss was the cost of reorganisation in advance of the merger, including the financing of around 125 job cuts between April 2006 and June 2007. However, the combined company says that although jobs were cut before the merger, it is now expanding, with the opening of a new site at Haverhill creating up to 350 jobs.
Culina has also directly taken on 200 staff who previously worked for Hanbury Davies, which was sub-contracted to pull some Culina trailers. Hanbury Davies was bought by Wincanton, but the drivers previously working on the Culina contract transferred directly to Culina.
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