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Canute turnover rises by £3m to £59,6m

3rd November 2005
Page 15
Page 15, 3rd November 2005 — Canute turnover rises by £3m to £59,6m
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ESSEX-BASED Canute Haulage boosted turnover by more than £3m in the last financial year, leading to a slight increase in pre-tax profits.

The company's latest accounts, for the year ending 31 July 2005, show that its pre-tax profit edged up from £2.36m to £2.4m.

At the same time turnover rose to £59.8m — but net profit following taxation fell from £1.81m to £1.56m.

The company's finances were more robust in recent years — for example, in 2000/2001 it made a £3.4m profit on a £41m turnover.

The directors describe the latest figures as "satisfactory"; they say they look forward to the group's "continued expansion over the coming years".

Canute, which is based inAveley, Essex, runs more than 500 vehicles from 10 bases in the UK and owns a number of haulage contrac tors including Frank Stokes, Ree Distribution and Cole Transport.

It is a market leader in brick and block distribution and also works in the industrial, manufacturing and retail sectors. Other activities include a distribution contract for discount retail chain Wilkinson operating from depots at Magor in South Wales and Worksop. Notts.