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Rail-freight boost for Malcolm Group
Page 13
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RAIL FREIGHT IS boosting the fortunes of Scottish-based Malcolm Group, which reports that its pre-tax profits have jumped by more than 30% to £4.7m.
Andrew Malcolm, chief executive of the logistics and construction services group, says its rail services will account for well over 10 million road miles this year as congestion on the roads makes it an increasingly attractive option.
"I would suggest that in the next couple of years we will increase it substantially.he adds. "We only put our toe into the water in February, 2000 and we've had it in the black for the last 18 months.We did [the equivalent of] 9.2 million road miles on rail last year."
The company runs daily services between Aberdeen and Grangemouth, and between Grangemouth and Crick in the East Midlands, for retailers such as Asda and Ikea. Rolling stock is subcontracted from Carlisle-based Direct Rail Services.
In the six months to the end of July Malcolm's turnover rose 12% to £68.1m. The rise in profits was boosted by two big property sales.
About 60% of Malcolm's business is accounted for by logistics; it operates around 450 trucks and 1,000 trailers.
Malcolm expects the Working Time Directive (WTD) to have a positive impact in the longer term, but is frustrated at the lack of clarity on the issue from the Government.
However, he adds that the group's preparations for coping with the WTD are well advanced, with extra drivers taken on and shift patterns adapted.