Hargreaves transport arm sees volumes rise in 2010
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INDUSTRIAL SERVICES group Hargreaves Services says its transport division ex panded during 2010, with increased revenue and profit largely coming from its tanker operation. Total revenue for the division was £72.7m for the year ending 31 May 2010, up from £67.6m in 2009. Pre-tax profit also increased to £3.1m from £2.2m.
Iain Cockburn, group finance director, states in the company’s report that the tanker business unit traded well due to increased volumes, helped by the acquisition of vehicles and contracts from Stiller Tankers in 2009.
“In addition to acquiring vehicles and a number of customer relationships, the tankers business has also completed a move into a new larger purpose-built depot that will provide a base for future expansion,” he adds.