Russell Davies optimism
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• Organic expansion, rather than aggressive acquisition, is likely to double Russell Davies Group's turnover to nearly £200m over the next five years, says chairman Glyn Davies. Profits will move from around ..C4m to £8m, he predicts.
A joint venture with Koreanbased container shipping giant Hanjin, called H&R Eurotrans, was set up in June: it will be one of the cornerstones for developing new business, along with Russel Davies Distribution.
Hanjin is one of the largest suppliers of Far East container traffic into Europe: through H&R, Russell Davies Group is responsible for pan-European container movements.
Russel Davies Distribution was set up in 1990 on the back of a national distribution contract with high-street retailer Dixons. The company now has a turnover of £30m and is ahead of target for a turnover of £60m by 1998.
PCS, Russell Davies Group's specialist contract hire and vehicle services operator, has also shown "significant" growth.