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Jempson boss not satisfied with 1% margin
27th April 2006, Page 22
27th April 2006
Page 22
Page 22, 27th April 2006
— Jempson boss not satisfied with 1% margin
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Keywords :
Financial Ratios, Generally Accepted Accounting Principles, Finance, Public Finance, Tax, Profit Margin, Profit, Traffic Congestion, Turnover, Business / Finance
PRE-TAX PROFITS at Rye-based John Jempson & Son dipped for the year ending 31 October 2005, from 2107,058 to 2105, 814. However, turnover was up from £10.5m to 210.9m.
"Some people have described it as a good year. I don't think so, not with a 1% profit margin," says MD Jonathan Jempson. "It isn't easy to make money out of the business at the moment when you take into account the big issues of traffic congestion, fuel costs and fluctuations in demand."
The firm has recently appointed a new director, Mark Chamberlain. "He'll gradually take over from me," says Jempson. "The process will be complete within about two years. I'll still be around-but doing less!"