Fowler Welch reveals positive results despite tough trading
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dam inIc.perryrarbi.muk FOWLER WELCH-Coolchain has made considerable progress during its latest financial year. with turnover and pre-tax profit rising despite the tough trading conditions, according to the preliminary results of its parent company, Dart Group.
The Spalding, Lincs-based operator saw turnover rise 9% to .E.122.5m and pre-tax profit rise to £74m in the year to 31 March 2010; profit margin also rose significantly, to 6% from 3.6% the year before.
The report adds: "This improved performance was achieved despite the business-driven capacity
increases and the effects of the exceptionally severe winter on fuel efficiency.
Fowler Welch has recently acquired a 500,000ft2 ambient facility in Heywood, Greater Manchester, to replace its existing
Stockport site and increase its presence in the North-West (see page 23). Business will transfer across by Christmas this year. it says, with temperature-controlled facilities added at a later date.
Felixstowe container firm Bawdsey Haulage was acquired during the period for a "relatively small sum'; adds the report.
Fowler Welch-Coolchain is also handling distribution for all Tesco's Express stores in the North-East from its Washington. Tyne and Wear. depot.
"The commercial outlook at Fowler Welch-Coolchain, while hugely price-competitive, looks encouraging," it adds.
There has been a focus on improving environmental performance during the year, the report adds, with Fowler Welch maximising its network, cutting empty mileage and enhancing trailer fill. It has also introduced 15 new double-deck trailers to its fleet. It adds: "While this has a detrimental impact on fuel efficiency, the overall carbon impact is reduced by virtue of the 50% increase in trailer fill, which the equipment delivers."