1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186 
Nightireights profits drop film in a year
Page 16
If you've noticed an error in this article please click here to report it so we can fix it.
Restructuring has taken its toll at delivery firm Nightfreight, but it expects that normal service will
be resumed soon. David Harris reports.
OVERNIGHT-DELIVERY specialist Nightfreight suffered a pre-tax loss of more than £6m for the year ending 30November 2005, citing exceptional costs involved in a financial restructuring.
The company, which made f..5m pre-tax profit the previous year, is now majority-owned by the Royal Bank of Scotland,which organised the restructuring. Newly installed chief executive Steve Allen says that while the company experienced some challenging trading conditions last year, it still made a profit before exceptional costs and it expects
to increase that profit in 2006.
The operational profit in the year ending 30 November 2005 was .25m, agai nst £6.1m in 2004.
The holding company for Nightfreight is now Penglais Investments. Under the restructuring, Nightfreight Holdings sold its only asset to Penglais, so it filed for voluntary liquidation in December 2005.
Founded in 1984, Nightfreight runs more than 1,000 vehicles and employs 2,500 people at three hubs and more than 50 depots across the UK. Its headquarters is in Willenhall,West Midlands.