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CFS goes into the red
Page 9
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I HE DIRECTORS OF Surreymsed Cranleigh Freight Services iCFS) are satisfied with the firm's )erformance in 2005, despite noving from profit to loss during he financial year.
The company moved from a re-tax profit of just over £650.000 n 2004 to a pre-tax loss of over 186,000. Turnover fell from :14.6m to £13.4m; a £702,225 iperating profit became a loss if £87.642.
In their financial report the directors say they are "satisfied" with the 2005 financial result as they had taken steps to cope with the harsh economic climate.
The report describes 2005 as a period of continued growth in the direct home-delivery sector with CFS's road haulage and logistics services recording a "similar lc % el of activity" to recent years. During 2005 about half the company's tractors and trailers were replaced: double-deckers were introduced into the fleet in response to customer demand.
CFS was set up in 1977. It specialises in direct home delivery, transport services to the Continent, UK pallet distribution and warehousing.
Nobody from the company was available for comment as CM went to press.