Meachers Global. posts pre-tax profit rise
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MEACHERS GLOBAL Logistics, the Southampton-based haulage and forwarding specialist, has reported improved pre-tax profit for the year ended 31 May 2009.
During the period, the figure rose to £589,000 from £551,000 the year before. But the previous accounts were spread over a 17-month period, so, on a like-forlike basis, the accounts show an improvement of more than 50%, says chairman and managing director Bob Terris, Meac hers' turnover was 120.3m, compared with the 17-month figure of I:22.9m. Terris believes the improved profit is down to "better housekeeping" and "reengineering" the business to "develop areas that are more profitable". The firm will show another improvement in the year to June 2010, he also predicts.
Terris adds: "We are being more selective in the business that we do, and we are being aggressive in our sales, hut not so aggressive that we are buying business."
The firm has also benclitted from a rehranding carried out in September last year, where it dropped its former name Meachers Group Holdings. Terris continues: "It has reduced internal costs and has helped with the external marketing: the brand now represents what we do more clearly — it's a much stronger message."
In addition. the firm, which also has a depot in Derby, has centralised its transport planning operation in Southampton, which has yielded some improvements in vehicle utilisation.
Meachers has also implemented a new management structure allowing for succession in business, says Terris — this enables staff to "prove what they can do".
He adds: "It's a great comfort to know we have got people here capable of running the business should I get hit by a bus tomorrow."