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Ploughing back helps Turners boost its turnover and profits
Page 14
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It's been a good year for one of East Anglia's biggest haulage firms, with growth both in turnover and profit. Chris Tindall reports.
FAMILY-OWNED East Anglian haulage firm Turners (Soham) Group boosted its turnover by 9% last year. to.).1132.2m.
Accounts just filed at Companies House for the year ending 31 December 2005 reveal that pre-tax prolits also increased in the period, from £14.5m to £17.5m.
Director Paul Day is pleased with the results: he says they reflect the hard work everyone has put in: "More importantly, they also reflect the amount of money that the company has re-invested into itself.
"The owners haven't taken any money out: it hasall been re-invested back into the business... the buildings: the assets: the fleet . There fore we don't have the borrowing costs that other companies do. The group includes a Dutch arm, Turners International By. as well as Turners PPL a non-trading company that it acquired a 45% minority interest in for £315,000 in December 2005 and which has since been consolidated.
The group's assets are worth £48.6m.of which Turners (Soham) owns £48.1m.
The number of staff in administrative and operational roles rose from 1.390 to 1,403:the group paid out almost £40m in wages, pensions and social security costs.
Its highest-paid director received a salary oft 144,000.
The group holds a 50% shareholding in Profresh Solutions, a temperature-controlled storage and distribution specialist whose partners include pan-European operator Soistor and Sainsbury's. Turners' accounts list Profresh as a joint venture, although it has no control over Profresh 's day-to-day operational and financial affairs.
Turners works in a variety o sectors including temperature controlled distrihution,agrieultun and bulk powders.