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Fergusons on the move
Page 7
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FERGCSONS TRANSPORT has sold its Blyth HQ and plans to build a larger base closer to the Al.
Alan Ferguson owns the Northumberland family haulage firm that dates back to 1926. He says the old site, valued at £3m, was sold for much more than its book value.
"We trebled the value that it was held on the books and made a seven-figure profit,he adds.
The site was sold to property company Helios: until Fergusons builds its new HQ, it will be a Helios tenant.
Last week Fergusons' latest annual figures revealed a pre-tax loss of £268,197 in 2005. against a £367,868 profit in 2004. Turnover fell from £24.3m to just over £23m.
The loss was blamed on the cost of moving the company's largest depot from Sunderland to Washington — and, inevitably, on the high cost of fuel.
Alan Ferguson says he is "not anxious at allabout the loss: "The depot move to Washington cost £3.5in and it is a much bigger site, so things will look a lot better next year."
The company recently acquired its local rival, Waugh Road Services. (CM 18 May).