Owens turns back on bad debts for 2010
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SOUTH WALES haulier Owens (Road Services) was the victim of two substantial had debts last year, as it posted a pre-tax loss for the year ended 30 June 2009.
The company made a pre-tax loss of £492.031, including two had debts totalling LI 10,000. These resulted from the collapse of two customers: tyre recycling firm Tyregenics and packaging business Klockner (COSI). which both entered administration in the period. It also cites a slump in steel production as a reason for the loss, with Carus a main client. Turnover for the year fell to £27.9m, from 129.9m the previous year.
However. Owens says 2010 has seen it turn a corner, with volumes rising and warehousing reaching capacity. The aim for 2011, the firm says, is for further growth with new accounts under active discussion.