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Directors act after profits dip for second year
Page 10
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ASSOCIATED COLD Stores and Transport, the temperaturecontrolled distribution specialist, has turned in -poorer results than expected" with a £1.4m pre-tax loss for the financial year ending on 31 December 2005.
Latest results show the Lincolnshire-based company suffered a drop in profits of more than 100% during the period. after reporting a £605,000 loss in 2004.
However, the directors say measures have been put in place to get the company back in the black within the next 18 months. -Another difficult year of trading has resulted in poorer results than expected," they add. —The company's year-end financial position was satisfactory and the directors expect that the present level of activity will be sustained for the foreseeable future.
"Measures have been put in place with a view to returning the company to profitability within the next 18 months."
The company has sites in Wolverhampton,Tewkesbury and Scarborough; it is involved in warehousing and distributing dry goods.