Applied's results signal expansion
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III Applied Distribution plans to expand two of its recent acquisitions after registering a 28% increase in turnover to £15.3m, with a 13% profits increase to £1.9m for the six months to 2July.
The Maidstone-based operator is considering cutting back on the subcontractors it uses in Leicestershire for Sara Lee Household & Personal Care UK, which it bought last month. It could handle Sara Lee deliveries with its own fleet, currently running at around 300 vehicles.
Applied Distribution's chief executive Michael Rowley says there are great opportunities to develop Bernard Brooks Transport (Elland) which was bought in June. This three-vehicle operation uses only a third of its warehousing.
Applied's figures, adjusted to reflect capital restructuring, are the first since its stockmarket flotation in March. Its main customers include J Sainsbury, Somerfield, Esso and Nestle.