Potter Group profit up 97%
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chris.tindatt@rbi.cc.uk ACTION TAKEN BY road and rail specialist The Potter Group in the face of economic uncertainty boosted profit by almost 100% in the year ended 30 April 2010, despite a fall in turnover.
The company has taken on new clients, including Resource Chemicals and Clariant, and renewed its 25-year bulk contract with Cemex UK at two of Potter's sites. It also refers to a convenience food company that has "virtually doubled its use of the Selby distribution centre".
But MD Matthew Limb says a focus on investment, cost control and customer service also helped pre-tax profit to rise by 97% to £632,000.
"As soon as we saw where the economy was heading. we put in place a number of measures to control costs and to make the best use of our assets, whether land, equipment, facilities or the skills and expertise of our staff." he says.
"We concentrated on further improvements in customer service and, most importantly, on maintaining a strong marketing focus on our strengths in areas such as chemicals, pharmaceuticals and other value-added sectors."
Turnover fell £767.:000 to £14.8m during the period, although the company invested across the group, including £350,000 in container handling equipment and an upgrade of facilities at its Selby. North Yorkshire multimodal centre.
Limb adds: "The current year is continuing in a similar vein, with further investment in infrastructure and innovative services supporting new business.
"With reasonable levels of activity, including strong organic growth from our existing customers, we expect our 2011 results to be similar to those of 2010."