A revival in activity within the construction sector helped ET Holdings more than treble profit before tax in the year to the end of March 2014, from £192,000 to just under £760,000.
Turnover in the group, which includes hauliers Evans Transport and Seymour Transport as well as commercial vehicle workshop operation Trident Commercials, rose from £20m to £21.5m in the same period.
In the parent company’s latest annual accounts, the firm’s directors said the combined effects of general economic improvement, more stable fuel prices and a number of systems improvements had helped both volumes of business and margins to recover dramatically in the year.
ET Holdings director Nigel Evans told Motortransport.co.uk the recent revival in the construction sector, which accounts for 90% of business for Seymour Transport and around 65% of Evans Transport’s turnover, had been the key factor. “We had some particularly difficult years from 2009 to 2011 but we continued to keep most of the staff and when things picked up we were in a healthy position to maximise it,” he said.
Much of the turnaround came from an increase in business from existing customers though the group did pick up a number of additional smaller ones during the year, said Evans. Moves to renew the fleet in the last couple of years had also contributed in the form of lower running costs, he suggested.
ET Holdings, which employed an average of 197 staff during the year and runs sites in Bideford, Maidstone and Barnsley, should achieve very similar turnover in the current financial year if things pan out as expected, added Evans. “You've got to keep your eye on the ball - it's a lot easier to lose money than make money in this industry,” he said.
