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Boughey doubles profits
Page 9
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BOUGHLY DISTRIBUTION made a record profit of £2.1m in its last financial year. Now rising demand for storage is prompting the construction of three new warehouses at the lirm's Wardle site.
Boughey-s business development manager, Steve Woodhead, attributes the 25% jump in turnover to organic growth among its main customers such as Princes Foods, Patak's and HP Foods.
"We've landed some contracts that have provided a full year's worth of revenue as opposed to a part year," he explains. "[Our warehouses] have been 100% full for the past 12 months without any major moves during that time. It has been a good, steady year for us."
Preliminary results for the year ending 31 May 2006 were released this week by Boughey's parent company, NWF Group.
Turnover for Bough ey grew by almost 25%, from 122m to f27m, and its operating profit nearly doubled to f2.1m from 11.2m.
The NWF Group recorded pretax profits of15.5m.
NWF chairman Roy Willis says in his report that the expansion of warehousing at Wardle will be completed early next year. This development will more than double capacity, providine, space for almost 60,000 extra pallets.