CM Downton takes profit hit from driver shortage but remains ‘very upbeat’


 

The driver shortage becoming more acute drove CM Downton’s profit down in the 2016/17 financial year, and the operator said it’s having its “most difficult commercial conversations” with clients to date as it moves to increase fees. MD Andy Downton told MT that its 9% pre-tax profit drop to £5.1m in the year ended 30 June 2017 was “symptomatic of increased driver costs and increased agency costs” but that the business had the situation in hand. He said: “The driver […]