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 […]
Royal Mail offset declining letter volume with its growing parcels operation in a year that saw it surpass the £10bn turnover mark for the first time, but saw pre-tax profit fall by more than a third (37%).
The government should stimulate the economy by creating a quantitative easing programme for people rather than banks, according to Clugston Group CEO Stephen Martin.