Tibbett's profit boost
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• Tibbett and Britten's move into contract distribution helped boost its first-half profits by 52% from a turnover increase of 48%.
Finance director and deputy chairman Sidney Gould says this pace of growth is likely to continue in the coming six months. Tibbett and Britten traditionally does best in the second half of the year and the company is also due to begin operating more regional distribution centres for Marks and Spencer.
Gould says that the Marks and Spencer contract enables T&B to look forward to steady growth in the future, but the company also plans to expand the rest of its business. Work for Marks and Spencer currently accounts for just under 60% of T&B's turnover of £23.4 million in the first half year. Gould would like that proportion to fall to below 50% as other business grows.
The latest figures include business generated from new distribution contracts with IBM and Elida Gibbs.
Though the company's traditional hanging garment transport business produced growth during the first half, around 80% of its growth came from new contracts.
T&B's international division was the only section of the company to suffer a revenue decrease in the first half — and the company has now sold it for £580,000 to Fashion Transport UK. • Rental firm Intertrail Rentals is spending £1 million on new vehicles, including ten Leyland Daf Roadrunner 8.13s. Intertrail specialises in hiring out 7.5 to16-tonne rigid reefers and already has 50 Roadrunners in its fleet. Contract hire general manager Tim Campbell says, "Intertrail Roadrunners have proved themselves to be a good asset — reliable, versatile and flexible in operation." The new Roadrunners will be offered by Intertrail on both contract and spot hire.