The Pallet Network (TPN) is due to move to new premises adjacent to its current home on Prologis Park Midpoint in Minworth in the coming months.
This has been driven by growth, and a lack of parking space for its members’ trucks, something borne out in TPN’s latest accounts.
The accounts themselves reveal that in the year to 31 March 2012 the foundations for the current project were being laid, with turnover (defined here as provision of services: namely pallet handling fees, membership fees and administration fees) up a healthy 13% to £52m.
From this turnover total, just over half a million comes from the Republic of Ireland.
Gross profit margin slipped from 14.2% to 13.9% in the year, as cost of sales increased as TPN was forced to pay for cover in “difficult and remote” areas to ensure full network coverage at all times (presumably plugging temporary gaps where members succumbed against the backdrop of the UK’s harsh economic environment).
Despite this, operating profit increased year-on-year and pre-tax profit for the period was up almost 20% to £2.8m (2011: £2.3m).
- The United Pallet Network has also just published accounts, but the abbreviated balance sheet filed at Companies House for the year to 31 March 2013 gives little away. However, it does show that accumulated retained profit increased by £502,510 from £1.59m in 2012 to £2m in 2013.