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Palletline's back in the black
Page 20
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An "aggressive cost-reduction programme" helped the network owned by
its members back into profit despite a fall in turnover. Chris Tindall report.
PALLET NETWORK Palletline weathered an increasingly competitive market last year to record a £1.1m pre-tax profit despite a reduced turnover of £9.3m.
The group puts its return to the black following 2005's pre-tax loss of almost £800,000 down to "an aggressive cost-reduction programme" and an overhaul of strategy. Its directors say it saved £600,000 by rescheduling development of its London hub and saving £700,000 due to lower distribution costs. A Palletline spokesman explains that members have now opted to trunk directly to London instead.
Employee numbers were reduced by 22 during the financial year ending 30 June 2006,by amalgamating hub operations and closing the central depot. The report adds: "Over the past two years, growth rates have been extremely volatile. A cautious approach is likely to be adopted, mainly because of historical volatility, but it will be necessary to develop contingency plans in the event that the current double-digit rate of annual percentage growth is maintained beyond the next 12 months."
Managing director Glyn Jones says: "The figures reflect the growth in pallet throughput from our existing members, the addition of new members and the ongoing commitment of all members to maintaining the very highest standards."
Palletline was founded in 1992 and has hubs in Birmingham: Greenford, West London; and Preston,Lancs.