No upturn yet says report
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• Hauliers might be cheered by figures which show the transport industry is taking a smaller proportion of total business failures in the UK compared to a year ago.
But they are warned that no real improvement in the economy should be expected until next year.
Figures released last week by accountancy firm KPMG Peat Marwick show that the transport and communications industry made up 2.56% of receiverships in the first three months of the year compared with 3.47% over the same period last year. Manufacturing, construction and other services were the only other sectors to improve.
A report on international hauliers based in the UK reveals that nearly one in five increased their profits.
The ICC Financial Surveys report says a quarter showed losses in their annual accounts. The 10 most profitable are BOC Group, Rewal, Associated British Ports, Freightroute, Walker & Son, Soton IOW, Nuclear Transport, White Arrow Express, International Bulk Liquids and John Swire,