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Profits fall at Roadways Container Logistics
Page 9
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ROADWAYS CONTAINER Logjstics turnover and profits fell last year: a year when its parent, P&O Nedlloyd. was acquired by Danish groupAP Moller-Maersk.
In its figures for the financial year ending 31 December 2005 the company, one of the UK's leading deep-sea intermodal container transport operators, reports that turnover dipped slightly from £70.7tn to £70.3m. Operating profit before financing costs fell fromil.4m in 2004 to £952,000— and overall profits fell sharply from just over Om to 066,000.
In April 2006 the company announced the closure of its terminal at Coatbridge,North Lanarkshirein July it sold its depot at Perry Bar. West Midlands for f.8.2m,generating a profit of £6.2m.
However, it has opened a rail freight depot at Birch Coppice, Tamworth.Staffs.
AP Mol ler-Maersk bought P&O Nedlloyd in August 2005.