Saints Transport has so far survived the economic downturn to reveal a 1.8% increase in pre-tax profit, but predicts that times are likely to get harder and cost cuts may have to be made.
Saints Transport Limited, together with its subsidiary Saints Transport Heathrow, has seen pre-tax profit rise to £980,500 for the financial year ending 31 December 2007 compared to £963,000 in 2006. In addition, turnover rose 0.5% to £32.8m.
Although the Heathrow subsidiary had stronger results than the rest of the air freight logistics group, managing director Martin Carroll reveals the companies will now operate as one again under the Saints Transport name.
He adds that fuel savings were achieved by not using AdBlue on any vehicles in the 165-strong fleet and by including a fuel duty escalator in contracts.
Although the group is confident of strong profits for the financial year ending 31 December owing to new business deals won, Carroll admits that the uncertainty of the market means cost cuts may have to be made in 2009.
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