1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136 
TOG unveils healthy results thanks to its 'revitalisation'
Page 8
If you've noticed an error in this article please click here to report it so we can fix it.
roger.brownfarbi.co.uk TDG'S NEW MD David Bermingham (pictured, right) says the company is focusing its efforts on its fourth-party logistics (4PL) and freight forwarding divisions to achieve future growth.
The firm owned by DouglasBay Capital since October 2008 posted a pre-tax profit of £4.6m for the first six months of 2010, compared with a pre-tax loss of £1.8m for the same period last year.
Turnover was also up 4% at £340m, compared with £327.8m in the first half of 2009.
Bermingham says TDG, which has set up 4PI. operations for Corus and Aggregate Industries, now offers "the market leading proposition" in the sector.
Bermingham, who joined the company two months ago from Ceva Newsfast, where he was also MD. adds: "TDG went through a revitalisation programme during 2009 and the business has come through the process strongly.
"The focus now is on accelerating growth further development of the 4PI. side and freight forwarding will play a big part in this."
According to TDG, 80% of bank debt taken on at the time of its acquisition by DouglasBay has now been repaid.
Since the start of the year. four TDG sites at Stretton, Cheshire; Batley, West Yorks; Lancaster. L..ancs; and Manchester have been transferred to DouglasBay', property arm DouglasBay Property Group for £7.3m.
DouglasBay Capital chief executive Alex Paiusco adds: "As planned, in the first half TDG's capital structure was again strengthened through selective property disposals, raising £40.8m to repay group debt.
'This more active management of the real-estate portfolio remains a key clement of our investment case, while also moving TDG further towards a more assetlight business model, in line with standard industry practice."