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Rising costs hit margins
Page 16
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A new survey says operators have a gloomy view of the year ahead; the ETA disagrees. Jennifer Ball reports.
BARELYA QUARTER of operators reported higher profits in 2003 than the previous year, compared with a national business average of 42%, making it one of the worst performing sectors of the economy according to new report.
Manchester-based financial services firm Cattles Invoice Finance's annual business survey found that operators are also cautious about the year ahead. Just 20% of respondents are optimistic about prospects for 2004, compared with 33% in the food and retail sector.
Operators were most concerned about complying with legislation, controlling spiralling wage and fuel costs, and retaining customers. More than 50% of those sur
veyed said their businesses had suffered through rising employers' liability insurance, with one in three stating that rising vehicle insurance was also a problem.
Doug Crawford, Cattles group MD, says: "Haulage bosses are finding increasing pressures on their business from many different angles. New growth and business development is being hindered through low levels of working capital and rising costs."
But Rachel Hare, FTA economics analyst, disagrees. She says the FTA's Quarterly Transport Activity Survey reveals that operators across all sectors, from construction to retail distribution, expect to see moderate growth in 2004.