ECM profit falls, but 2010 looking positiv
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christanher.wattonrbi.co.uk ECM (Vehicle Delivery Senice) recorded a fall in turnover and pre-tax profit in 2009, hut this calendar year has seen it unveil a succession of contract renewals and wins.
For the year ended 31 December 2009, Carlisle-based ECM posted a turnover of £60.5m, down 3.3% from £62.4m in 2008. and a fall in pre-tax profit of 62%, from £1.1m in 2008 La £418,124 in 2009 as the market for new cars collapsed. The slump in pre-tax profit in 2009 does not take into account the £433,244 profit it made in 2008 following the sale of a property in Coventry. Without this exceptional item, pretax profit would have fallen by 37%.
I lowever, the directors at the automotive specialist said that despite the potential for rising interest charges on hire purchase agreements and the growing price of fuel, none of these risks would have a significant impact on the trading position of the company for the foreseeable future.
ECM has since signed a two-year deal Gefco to deliver for Peugeot and CitroL.'n Sheerness port to its dealer network in D and Cornwall.
It also renewed its contract as the r supplier for Volkswagen, moving some 221 units per year, and began a new distrib route into Scotland for Mazda.
This year it also won a contract with N to deliver vehicles from the North-Ea South Wales and the South-West, a deal MD Ray MacDowall described at the tit -especially welcome" because the firm ne "all the business we can muster in order to the ECM fleet and all our employees gaii employed in 2010-.