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THE MANAGING director of Peterborough bodybuilder Lawrence David says the
Page 9
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business struggled last year in the face of rival firms selling components at "ridiculous prices". However, Lawrence Marshall remains bullish about the financial state of the company, saying it is profitable and provides "a good living" for its staff.
The high-profile bodybuilder reported a £374,000 fall in turnover to £39.5m for the financial year ending 31 May 2006;pre-tax profits fell .£664,000 to 28i,000.
But the company workforce grew, particularly within sales and production, to 185.
Marshall plans to expand the business, although he admits margins are tight: "It's hard at the moment. Hauliers are being sq ueezed,rates are being squeezed, and they're looking to buy their trailers for less. There are people that will offer prices that shouldn't he offered as such.
-We have a choice: match them, or walk away from the deal. Margins are being squeezed to a point where it's increasingly difficult to make a profit.
"We didn't have a great year,but like previous years we continue to make a profit and reinvest in the business."
Marshall adds that the firm has been looking for added value in other areas of business: -We still do a lot of engineering in-house. We have a repair division,a finance division, an asset management division; we put two dedicated people on the spares side.
"We look for added value in other areas. If you can't get it in the trailer business, you diversify."