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A fifth of hauliers make loss
Page 14
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• One in five road haulage companies made a loss during the past financial year, according to a report which rates 40% of hauliers as being in financial "danger".
The report shows that one in two road hauliers increased its borrowings over the past year and warns that some of the weakest opera tors may not be able to service their loans.
According to the analysis by Plimsoll, the strongest road hauliers reduced the level of their loans by some 214m, but the financially weak increased their debt by £320m.
Balance sheet analysis of more than 2200, limited compa nies shows average sales growth in the haulage industry allur ing the last financial year was 6%, while average pre-tax profit margins were 2.7%. One in five companies managed a 20% or more increase in sales; a similar proportion made more than a 10% pre-tax profit margin as a proportion of sales. A report published last month by CM's parent compa ny, Reed Business Information, showed the number of hauliers has fallen to it lowest level for 10 years. Just three road transport firms went into receivership or had administrative orders against them in November, according to accountants Deloitte and Touche.