CM Downton achieved a record turnover in the year it was acquired by EmergeVest for £75m, although costs associated with the deal weighed on the firm’s annual profit. In the year to 30 June 2018, turnover increased 9% to £127.3m (2017: £116.8m) accounts filed at Companies House show. An increase in administrative costs connected to March’s sale to EmergeVest resulted in pre-tax profit for the period standing 45% lower at £2.8m (2017: £5.1m). Recently installed MD Duncan Eyre told motortransport.co.uk: […]
The government’s apprenticeship levy will come into force in April 2017. This means in just four months, companies with a payroll of £3m or more will be paying 0.5% of that cost into a pot, which UK businesses will be able to draw from for staff training.
Paper manufacturer Saica has extended CM Downton’s contract for another year without reverting to a tender or benchmarking process.
Eight road transport and logistics businesses now have an annual turnover in excess of £1bn.