Recovery?
Page 5
If you've noticed an error in this article please click here to report it so we can fix it.
STRIKE-BREAKING coal haulage might bring benefit to some companies, yet this will not compensate for long term economic recovery in the road haulage industry, two financial surveys of English hauliers have concluded.
The surveys by the ICC Information Group were based on accounts submitted by hundreds of hauliers from about mid-1982 to this year.
ICC says the haulage industry is "performing rather more successfully than might have been predicted". But the picture is diverse.
In London and the South, and the Midlands and the North, companies generally seem to be faring equally. Around 70 per cent of companies had increased their turnover on the previous accounting year, around 60 per cent had increased their profit and approximately 30 per cent had made a loss.
ICC concludes on rates: "What is clear is that while many road hauliers are enjoying an increase in business they are not receiving lucrative rates for doing it." And patchy recovery sometimes only reflects the over-capacity in the industry.
The surveys show the vast differences in performances that companies have recorded. For example, Mitchell Cotts Freight (UK) in mid-1983 had retained around £900,000 profit before tax and group relief which was similar to the previous year. This represented roughly an eight per cent rate on its £11.6m turnover.
Copies of the surveys entitled Road Hauliers — London and South, 13th edition and Road Hauliers — Midlands and North, 13th edition priced at £92 each are available from ICC Financial Surveys, 28-42 Banner Street, London EC1Y 80E.