Roadways is back to profit
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By Christopher Walton ROADWAYS CONTAINER Logistics has returned to proit despite a fall in turnover and a warning that rates in the market remain depressed.
For the year ended 31 December 2011, Roadways achieved a pre-tax proit of £319,000, compared to a pre-tax loss of £697,000 in the previous year. Turnover, however, fell to £43m, from £49.3m in 2010. Gross margins rose from 11% to 15%.
At the same time it took a £296,000 hit on restructuring charges, investing in IT and new vehicles.
Roadways is currently in the process of taking delivery of 15 Mercedes-Benz New Actros, 10 Scania R-Series and 25 Volvo units. It will also take delivery of 100 Dennison EF25SKA sliding skeletal trailers.
MD Nick Matthews tells CM: “It was pleasing to return to proit in 2011 and complete the reshaping of our business. The investment in our leet together with our new IT systems will allow the business to take advantage of new growth opportunities whilst continuing to provide our customers with service excellence.” Last week (CM 26 July) rival Pentalver warned that the market for container haulage remained extremely dificult, with container volumes depressed.
Matthews adds: “The container transport market remains challenging with haulage rates depressed and operators going out of business. However, since we became independent, we have built a reputation for service excellence and have forged strong relationships with our customers. This gives a solid base from which we can grow to meet the expectations of our customers over the coming years.” Roadways was bought by Aegeus Transport from Maersk Line at the end of 2008.