News

Southampton-based container specialist Pentalver Transport, part of shipping giant Maersk, had a healthy 2007 according to latest results filed at Companies House, but is experiencing a downturn in its storage operations this year. Pentalver's accounts for the year to 31 December 2007 saw a 41% rise in turnover from £44.5m to £62.9m, while pre-tax profit grew 44% to £10.7m from £7.4m the previous year.

Managing director Brian Tattersall says the healthy figures are largely due to container  sales. "Transport is really only a small part of our business the storage of containers is the biggest part, however, since we began selling containers a few years ago, this has really expanded. Last year it accounted for 30%-35% of our business." Sister firm Pentalver Cannock, formerly Bowmur Haulage, which Pentalver Transport bought in May 2005, also had a good 2007, with turnover rising 18% to £24.7m from £20.8m, and pre-tax profit up 4% to £2.4m from £2.3m.

However, according to Tattersall, the results for Pentalver Cannock, which runs a fleet of 150 vehicles, were "below budget" due to "high diesel costs" and is under budget again this year for the same reasons. Looking ahead to the remainder of 2008, Tattersall admits the business has seen a real downturn on the storage side. "People just aren't buying things in shops, so there are less containers coming in and therefore less storage required.

"Overall, we've seen a reduction of £500,000 a month in storage since  February and are currently looking at making a handful of redundancies," he adds. However, Tattersall is loathe to give up the 45 acres of land the firm rents in Southampton for storage, as he says space is at a premium at the container port. "If I can get through the next 18 months that will be great. The last thing I want to do is be without land when the upturn comes," he says.