North Yorkshire haulage firm Prestons of Potto failed to grow its business either in terms of turnover or profit during 2007, according to its latest accounts. During the year ending 31 December 2007, the Northallerton-based haulier's turnover was barely changed from the year before at £23.54m compared with £23.55m in 2006.
Equally, pre-tax profit fell by just over a quarter to £221,010, with operating profit also slipping to £391,161 from £446,599 the year before. The directors' report warns that "trading is challenging", but says that "the group continues to operate profitably in a highly competitive industry".
It also increased its net debt by £1.2m from £1.7m to £2.9m as it began a refleeting programme and made major investment at its Knottingley, West Yorks depot. Driving staff were also cut from 280 to 210 during the year. The firm was unavailable for comment.