Construction haulier unable to sell firm
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By Joanna Bourke
THE MANAGING DIRECTOR of Kent-based construction haulier Ardula says there is no way of selling the business because the outlook for the sector continues to look bleak.
"We've had some customers go bust, and even with new clients, our volumes are still low. I can't see any change in the construction market in the near future," Ardula managing director Martin Dace tells CM.
Ardula attributes the slump in the housing market as one of the key reasons for a predicted drop in pre-tax profit and turnover for the year ending 30 September 2009.
This will be Arduia's first fall in turnover and pre-tax profit in its 16-year history.
Dace reveals that he wants to sell the firm in-house to his colleagues before retiring, but admits that now the market is strugglIng, it doesn't look so attractive.
In addition to two petrol bomb attacks in July, costing the group £35,000 ('Cash reward offered after Ardula attacks', CM 30 July), the group regularly has to park up a quarter of its fleet.
"I would like to sell them, but it's not viable to sell Euro-5 lorries for less than we paid," he says.
Ardula's near neighbour, John Steward Transport, in Paddock Wood, Kent, claims that since September 2008, volumes have fallen by around 50%.