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Armstrong profits tumble in wake of contract Icx.
Page 13
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Pre-tax profits at Cumbrian haulier William Armstrong fell by than 50% to £192,475 last year after it lost a long-term contra milk collection Armstrong is involved in livestock and tanker haulage an founder member of the Pal letforce network.
In May the company took over Northumberland ope William Oliver after three members of the Oliver family convicted of conspiracy to falsify tacho charts.
Armstrong MD Jennifer Whyberd says the aim wi replace the milk contract, which involved collecting from far in Cumbria and south-west Scotland. "[The takeover] expanded the business, with more focus on general haul she reports.
Armstrong's slump in pre-tax profits in the year to March is only partly explained by the loss of the milk-collection col to Bibby Distribution this work accounted for just 10% turnover (CM12 May 2005).
Directors also blame difficult trading conditions, which thE have continued into this financial year.