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Sorting the wheat from the chaff
Page 19
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NEARLY A QUARTER of UK truck operators are showing the early signs of going bust, according to a new financial report. But the same report on 2,000 companies also rates nearly 700 companies as "strong", with little or no debt and healthy profit margins.
Firms in the strong category include Armstrong's Transport of Wigan, which makes a £1.2m profit on a turnover of £15.14m; and Preston-based Carefoot, which makes just over Lim on a £22.45m turnover.
David Pattison, senior analyst with Plimsoll, which carried out the research, says: "There are companies in trouble but equally there are the little jewels just getting on with their business despite all the barriers that are put in their way."
Plimsoll has identified three steps on the road to ruin: one, chasing turnover at the expense of profit; two, constantly falling profitability; three, spiralling debt, to as much as 33% of turnover. ID Contact Plimsoll on 01642626400