A property revaluation was responsible for scuppering the bottom line at Bradford-based Expect Distribution in the year to the end of November 2012. It was enough to turn the previous year’s profit before tax of £432,500 into a loss of more than £943,700, despite a 14% rise in turnover from £15.8m to £18.1m. The revaluation, which yielded a £3.2m drop in the value of the firm’s freehold, was allocated to a £1.5m provision the firm had for it on its […]
Fowler Welch is on course to achieve a stronger set of financial figures this year than last, the chief executive of its parent company has told MT.co.uk. Dart Group’s Philip Meeson said despite tough prevailing economic conditions, Fowler Welch continues to grow its business and prove that its service levels are attractive to customers. “We’re gaining more business and we’re very satisfied with the progress that is being made and the support we get from our customers,” said Meeson. “The […]
Circle Express has continued to trade successfully under a Company Voluntary Arrangement (CVA), achieving its second consecutive profitable year.
Lombard, the asset finance division of the RBS Group, is actively seeking funding opportunities in road transport, bucking the trend which has seen several lenders leave the market since 2008. Lombard’s head of commercial transport, Derek Pridmore, says it is not the case that operators looking to fund new vehicles have little choice but to use manufacturers’ captive finance offering. “We financed £250m of truck sales in 2011, making Lombard the biggest single funder of CVs in the UK,” he […]