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Prestons of Potto is back in profit and 'very optimistic'

16th November 2006
Page 12
Page 12, 16th November 2006 — Prestons of Potto is back in profit and 'very optimistic'
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A well known North Yorkshire haulage firm is heading back into the

black — just in time for its 50th year. Chris Tindall reports.

RICHARD PRESTON & SON of Potto, North Yorkshire, is celebrating almost 50 years in road haulage. and its latest balance sheet reveals a return to the black with profits at almost £50,000.

Director Anne Preston admits to feeling "much betterthis year after last year's accounts for the Teesside haulage contractor showed a pre-tax loss for 2004 of around £83.000.

But the company experienced a turnaround in 2005,which Preston puts clown to a new 50-strong fleet of curtainsiders, refurbishment of its Knottingley, West Yorks depot and an overhaul of its IT systems. According to the directors report the company is also pleased that the aggregate value of its fixed assets, including freehold property, is "considerably in excess of the written value". It believes depreciation rates applied in the past were too high.

Turnover for the financial year ending 31 December 2005 was down £1.5m, hut pre-tax profit increased by £130,000. This still represents a margin of only 0.6%, but a return to profit has boosted optimism at the firm.

"Thisyear is going very well," says Preston. "Turnover is increasing: we are very optimistic about the business.

"I am absolutely delighted about road haulage this year. We've done wonderful things with this business, such as the IT systems and the Knottingley refurbishment; the fleet is very new and the side curtains are looking good. -All in all," she concludes, you're speaking to a bit of an optimistic Anne at the moment!"

The company celebrated 70 years in business this year and in 2007 it will be 50 years since its transport division was formed.


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