Saints Transport chairman leads MBO in loss-making year


 

Saints Transport saw a dramatic drop in pre-tax profit in 2016, in a year that saw the company undergo a major fleet renewal and chairman Piers Carroll complete an MBO. The operator made a pre-tax loss of £524,000 in the year ended 31 December 2016, a 302% drop on 2015’s pre-tax profit of £259,000. In its strategic report Saints attributed falling profit to the £5.6m spent on fleet renewal, and costs associated with the management buyout. The MBO was completed […]