More light has been shed on Pollock (Scotrans) purchase of fellow Palletways member Gilbraith (TS) earlier this year for what it described as a “seven figure purchase”.
According to abbreviated accounts for Pollock (Scotrans) filed at Companies House, the purchase price was £725,000, not quite seven figures, but the company has clarified to The Hub that further payments will be made in subsequent years bringing the final price into the seven figure bracket.
That said, the Bathgate haulier had an impressive year without a contribution from Gilbraith: For the 12 months-ending 24 August 2013 Pollock saw turnover rise to £21.8m, up from the previous financial year’s total of £19.5m. The company attributed the rise to a number of new contracts signed in the period. Pre-tax profit also rose significantly, from £76,756 to £420,387.
In February, Pollock said that the purchase would give the group a combined turnover in excess of £25m, and give it extended reach into North-West England. Gilbraith has only filed abbreviated accounts with Companies House, but given Pollock's growing turnover we must assume that target is more than achievable.