P DRINKS LOGISTICS

2nd September 2010, Page 10

2nd September 2010

Page 10

Page 10, 2nd September 2010 — P DRINKS LOGISTICS

Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.

Cert Octavian returns to profit with Om turnaround

joanna.hourkerarbi.co.uk CERT OCTAVIAN says it is delighted with its two-year, £8m return to profitability, following losses of more than £7m two years ago.

Anthony Finlayson-Green, Cert MD, reveals a pre-tax profit of £490,000 for the year ended 30 June 2010; the figure is in stark contrast to a £1.5m loss in 2009, and a £7.5m loss endured in 2008.

"This equates to a £2m turnaround year-on-year, and almost iSm over two years. This pays tribute to the strategy the company has been following over the past three years in rationalising our business and our capacity, and the commitment from my whole team, including the board.

The Hoddesdon, Herts, drinks logistics firm however experienced an 11.6% turnover drop to £39m,compared to £44.1m in 2009.

-We are in a funny time at the moment, lhe recession has triggered more firms to switch between drinks logistics providers than they would have done before, so while we won some new contracts, we did also lose some business," Finlayson-Green explains. New contracts picked up during the period include retailers such as Brown Brothers Wines, Marks & Spencer, and most recently Australian Vintage.

In addition. Finlayson-Green tells CM the following contract renewals are expected to add £4m to revenue for the year ending 30 June 2011: Comey & Barrow; [Met Hennessy UK; Red Bull; and Treasury Wine Estates EMEA (formerly Foster's EMEA).

The return to profitability has enabled the company to start offering employees cash bonuses, following a two-year pay freeze (CM 26 August 2010).