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O'Connor Transport is fighting back to get in the black
Page 6
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O'CONNOR TRANSPORT paid a heavy price last year for diminishing margins and inflationbusting costs— it lost £200,000.
Turnover rose to £7.8m for the year ending 31 March 2005, up by 2.3% compared with the previous year. But the Widnes, Lancs-based company's heavy pre-tax loss forced it to invest significantly in sister company O'Connor Properties. A spokesman says:" It is anticipated that this will generate considerably more business, and that profitability will return in the year to 31 March 2006."
Commercial director Peter Lea says £8.5m has already been spent on two cranes at its main terminal: We have revolutionised the work in this depot — lifting time has been decreased to 10 minutes. I don't know any port in the country that is doing this We aren't under any illusions; this is a tough job to be in." He says O'Connor Storage made a f26.000 profit and O'Connor Properties made £298.000. The company's trading position compared favourably with the previous year: cash generated from operating activities took it from a #254,000 deficit to a iI35,000 profit.
• christophentindall@rhi.co.uk