The administrator for contract hire and rental firm Axis Fleet Management said it now looked likely both former staff and trade creditors will receive some of their money back. This reversal in fortune follows a report from FRP Advisory Trading that came out last year and which warned that preferential and unsecured creditors probably wouldn’t be paid. But in its latest summary, FRP administrator Miles Needham said preferential creditors’ claims, which relate to staff arrears of pay, unpaid pension contributions […]
Confidence among logistics operators in future business prospects has increased significantly in the past six months, according to the latest Logistics Confidence Index compiled for Barclays and Grant Thornton UK.
Turnover and profit at Welch’s Transport continued their upward trend last year, despite the Cambridgeshire haulier contending with a relocation and the driver shortage.
International Swiss-based freight and logistics business Kuehne + Nagel reaped the benefits of its long term growth strategy with record results in the 12 months to 31 December 2011. Globally, K+N saw net profit rise to CHF606m (£421m) on turnover of CHF19.6bn (£13.6bn), increases of 12.2% and 9% respectively after the effect of the strong appreciation of the Swiss franc against K+N’s major trading currencies was stripped out, according to Tim Scharwath, vice-president for global air logistics. In K+N’s four […]