POETS widens scope
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by Nicky Clarke • P&O European Transport Services plans to expand its distribution arm by over the coming months with an acquisition of a general logistics company in the Midlands.
POETS managing director James Paton says a general haulier with warehousing work and an operating profit of around £100,000 would be a suitable candidate to help increase P&O Distribution's presence in the UK.
POET's five profitable sectors, P&O Distribution P&O Roadtanks, P&O Ferrymasters, Pandoro and Rhenania sit within P&O's service division, which also includes exhibition business and P&O Australia. The division made a £31.5m operating profit for the six months to the end of June, compared with £.35.4m for the same period last year.
Most of POET's UK activities performed better, but recession-hit continental markets have led to cost cutting redundancies and a possible wage
freeze, says Paton.
He says it is too early to say if whether a wage freeze will be appropriate for next year's UK pay round.
POETS operates 2,100 vehi cles, 8,000 trailers and
demountables from 150 depots. It has 630,000m2 of warehousing; more than half its 6,100 staff work on the continent.