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Turnover up: profits down
Page 12
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K EUROPEAN freight company The RH Group has recorded a drop in pre-tax profit despite a record turnover for the year to 31 December 2006.
Turnover rose by 32% in 2006. from £90.6m to £119.2m. During this period The RH Group acquired Hacklin Roadtrans, adding its network of international partnerships to that of Oy RH Freight in Finland.
Pre-tax profit fell from £3.24m to £3m as a result of losses at Hacklin Roadtrans. which was renamed Oy RH Global Logistics.
Group MD Ian Baxter says: think we've done very well to sig nificantly increase our market share in such a competitive market.This is an excellent result for a company in any sector, let alone the highly competitive market we operate in."
As well as expanding in Finland, the company further developed its European network by establishing partnerships with operators in Switzerland, Austria, Bulgaria and Romania.
RH Group's network now comprises 39 independent partners in 30 European countries.
It has hubs in Nottingham and London,16 sales offices across the UK and two branches in Finland with more than 700 employees.