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O'Connor pots black in 'satisfying' year
Page 19
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O'CONNOR TRANSPORT is back in the black, with a pre-tax profit of .t 128,000 replacing a loss of more than £200,000 in 2005.
The latest financial results from the Widnes, Lanes-based container logistics company also show a marginal increase in turnover for the financial year ending 31 March 2006. to €7.83m from £7.76m the year before.
The directors say it has been -a more satisfying year" than 2005 with the results revealing a "significantly more efficient performance-.
Commercial director Peter Lea says a £5.76m investment in two overhead gantry cranes in 2004 and the initial impact on its transport business while they were fitted hit the group's profits, but it is now enjoying returns from the increased capacity and investment at its Widnes rail terminal.
"We now have four cranes instead of two: we've gone to great lengths to have the capacity needed in the future." he adds.-It's future-proofing our business. "[The figures] give credence to the fact that the investment we made at a strategic time was the best decision. 11 was painful, but now we are reaping the rewards through increased efficiency."
The directors' report predicts that the accounts to 31 March 2007 will show a considerable increase in profit over this year's figure.
O'Connor Transport operates up to 90 vehicles and employs 108 distribution staff on container work, specialising in transferring railborne containers to the road.
• Rail-freight operator EWS has introduced container services between Southampton Container Terminal and sites in Widnes and Wakefield.
The freight trains have been brought in to meet pre-Christmas demand from shipping lines for containers to he moved to warehouses and terminals for onward distribution to high-street stores.
EWS has been able to introduce the services following an increase in capacity. at its terminal at Southampton.
Roth these services complement existing daily EWS trains to Wakefield and %Nickles; they are able to haul 9116in-high containers.