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Craib makes 1% profit MD is optimistic
Page 6
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THE MANAGING DIRECTOR of Aberdeen-based ARR Craib Transport is confident that it will boost its margins by 500% in 2006 after a difficult year involving six-figure bad debts and diesel price hikes of 20%.
The firm reported a £321.,000 pre-tax profit for the year ending 31 March 2005. This was almost 1,000 more than the previous year, but still represented less than a I% margin on a C.33m turnover.
MD Eddie Anderson says he is "reasonably happy" with the results—he blames a sharp increase in insurance costs and company closures on the figures.
"We had a bad debt with a customer in North-East England, which went bust out of the blue,he explains. "There was also the closure of the BPB paper mill in Aberdeen in July. We now have plans in place to recover.
The company, which employs 233 drivers out of a total staff of 324, has reintroduced a sales team in Aberdeen and reports that it has "dramatically increased" its conversion of customer enquiries to sales.
Anderson adds: "We're picking up smaller accounts and have been delighted with them. We've also picked up a contract worth at least couple of million, which we'll announce in a couple of weeks.
"We're optimistic after a couple of worrying months. We're aiming for 5% [profit margin] at least for the coming year.