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Stobart Group not only firm to defy crunch
Page 12
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DESPITE THE current uncertainty in the economy, the Stobart Group insists it is not seeing any downturn in demand.
The company posted pre-tax profits of £11m for the six months to 31 August. compared to losses of £2m in 2007. Revenues were up to £199.2m, compared to E1.8m last year. Due to last year's merger of Stobart Holdings and Westbury Property Fund, the latest results are not directly comparable with the half-year accounts for 2007.
Rodney Baker-Bates, Stobart Group chairman, says the company is not currently experiencing a fall in volumes, adding: "We now have a balanced business that is delivering an ever-increasing range of transport solutions to a broad and growing client base."
• Saints Transport has revealed a 1.8% increase in pre-tax profit, but predicts that times are likely to get harder and cost cuts will have to be made.
Saints Transport Ltd. together with its
subsidiary Saints Transport (Heathrow) Ltd, has seen pre-tax profit rise to £980,500 for the financial year ending 31 December 2007 compared to £963,000 for the same period in 2006. In addition, turnover rose 0.5% to £32.8m.
Although Saints Transport (Heathrow) had stronger results than the rest of the air freight logistics group, managing director Martin Carroll reveals the companies will now operate as one again under the Saints Transport name.
Carroll says fuel savings were achieved by not using AdBlue on any of the 165 vehicles in the fleet and by including a fuel duty escalator in contracts.
• O'Dell Transport has split its fleet in half to keep its head above water and prepare for the likely hard market times ahead.
The Bedfordshire-based general haulage firm is reducing its fleets from 14 to seven to rid itself of HGVs which the company owner, Philip O'Dell, claims are 'just sitting there'.
O'Dell says: "We were not really using half of them, but still paying for renting space and parking. While we still have a bit of time on our hands: now is the time to get rid of them."
The HGVs will be auctioned on 25 October by Malcolm Harrison Auctions.