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IFC's E20m profit iew record return
Page 5
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LE National Freight Corporation made a record trading profit £20.1m on a gross turnover of £407m in 1978. After deduction £9.2m in pension and redundancy payments and £10.6m erest payment to the Government the actual profit was luced to £300,000 or 0.75 per cent of turnover.
3RS Group increased its r7 profit by more than 100 r cent to £2.5m. Freighters' figures for the seven tnths before it was transfer! to British Rail showed a licit of E900,000.
Roadline was £700,000 in ficit. Special Traffics was 2m in profit while National niers made a trading profit E2.7m, its actual profit after erest payments and other arges is not revealed in the 7C report which contents elf with the comment "the mpany achieved significant provements at net level." !sICL's Fashionflow service 1 not operate profitably last ar but is reported to be ared well for this year. It's iil order delivery service, omeward, which was set up take over traffic which the rSt Office had overpriced to had "a difficult year." 'is, according to a spokesin, was because the Post fice had pegged its prices. The structure of Homeward is now under review.
Mr R. L E. Lawrence, NFC's chairman, said that the improved trading position of the corporation was due to an increase in both traffic and rates. Roadline's parcel business, however, dropped in package terms from 60m in 1977 to 51m last year. This, said Peter Thompson, the chief executive, was deliberate policy to rid the company of small unprofitable parcel's trade.
Roadline's profit per package carried rose from just over one pence in 1977 to marginally over three pence in 1978. From its contract services National Carrier had a gross revenue of £6m last year compared with just under £3m the previous year, The NFC' biggest earner last year was parcels and small freight from which it took £98.5m in 1978. Contract hire pulled in £65.4m. General hau lage accounted for £51.1m and unit loads for £40.8m.
The trend is towards contract work rather than spot hire general haulage although the BRS companies are operating general haulage in increasing volume through Clearfreight. This is a clearing house operation using subcontractors registered with BRS. It had a revenue of £10.0m in 1978.
Other activities of NFC with substantial earning last year include distribution, £31.6m; removals, £23.5m; bulk haulage, £14.3m; heavy haulage, £10.9m; warehousing, £9.8m; car transport, £9.6m; waste services, £9.5m; truck rental, £8.9m.
The NEC companies comprise BRS Group, NCL, Roadline, Special Traffics, including Cartransport, Containerway and Roadferry, Lawther and Harvey, based in Ulster; Pickfords Heavy Haulage, Pickfords Removals and Travel, Tankfreight, Waste Management, Tempco International, Cotrali-Pickfords Freight Computer Services.
FCS is an area which the corporation intends to develop this year and next. It was also hinted this week that Waste Disposal could be a profitable area for development.