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Sunday limes tells
Page 10
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operators' fortunes
N by Emma Penny Middlesbrough football club chairman Steve Gibson—who has a 75% stake in Teesside-based Bulkhaul—is the richest haulier In this year's Sunday Times Rich List, which is headed by the Duke of Westminster.
Worth 185m and 377th on the list, Gibson started tanker company Bulkhaul when he was 22. The newspaper reckons his share In the business Is worth £75m, with other assets and his Investment in the football club adding a further £10m.
Paul Day and family—the people behind Turners (Sohaml—are next in line for haulage, taking 470th place, and are reckoned to be worth 172m—£70m for the business and £2m for property and other assets. The Sunday Times says the haulage and warehousing group, founded in 1930, made a profit of £8.5m on sales of £106m in 2001.
Sharing joint 558th place—alongside novelist Jackie Collins and motor racing's Eddie Jordan— are David Ham and family and Edward and William Stobart, all worth £60m.
The Ham's haulage and warehousing business is worth £30m, with the remainder of the wealth coming from the family's "substantial commercial property holdings", says the paper. It adds that the irlams made a £636,000 loss on £42m sales in 2000-01, but that adding the bulk of the directors' £3.6m pay to the profit takes it to £3m, justifying its valuation of the business.
Margins at Eddie Stobart have been hit by competition and rising fuel prices, resulting in a £933,000 loss on £126.8m sales in 2001, says the Sunday Times. Despite the losses, the firm is asset-rich, and is "cautiously" valued at 160m, it says.
Standing alongside the Iriams and Stobarts, with a worth of £60m, is Alistair Salvesen and family, shareholders in Christian Salvesen. Tumbling share prices In the logistics firm have hit the family's worth, which has halved since last year's rich list. Ronnie Frost, former chief executive of Nays, has also seen his worth crash from £186m last year to 185m today as the group's share price has fallen.
Parcel delivery firms feature prominently in the list: founders of Business Post, Peter and Michael Kane, are valued at £150m; Roger Baines, who started Amtrak parcel delivery in 1987. is valued at £90m, while lain Sharp who cofounded Warrington-based Target Express Parcels is worth £50m.
Trailer manufacturers also appear in the list. The family who run Wilson Double-Deck trailers, headed by Tom Wilson, are worth £97m; Harold Montgomery and family, who run Montracon trailers and other businesses, are worth 155m; and James Gray and family, who run reefer business Gray and Adams, are said to be worth £27m.
• emma.penny@rbi.co.uk