News

Maxi Haulage increased both its turnover and profit to record levels in the year to 30 September 2008, according to its latest accounts.

However, the Ayrshire-based company warns that trading conditions continue to be very difficult and points to high fuel costs as a key factor.

The directors' report adds that "considerable increased sales have been achieved at reduced margins," and says the firm has managed to drive  out cost and improve efficiency to achieve a "satisfactory result in very difficult conditions".

It continues: "The unprecedented economic climate, at the end of the year and in the following period, reduced many customers' workloads and further increased pressure on margins, and whilst fuel costs have fallen significantly, these savings have been passed on to customers in reduced charges.

"However, increased sales have continued to replace lost business and a satisfactory result under the most difficult market conditions is still forecast for the current year."

Turnover grew by 24.1% to £31.3m, up from £25.3m in 2008, and pre-tax profit rose to £1.1m from £956,000 the year before.

Parent company Maxi Group, which also includes construction and property rental businesses, increased pre-tax profit to £3.2m in the year to September 2008, compared with £3.1m the year before. Turnover at the group  climbed 15.5% to £44.7m.