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Crewe, Cheshire-based Brit European Transport made a dramatic return to profit during 2011, recording a pre-tax profit of £334,000 compared to pre-tax loss of £453,000 the previous year.

Turnover in the year to 31 December rose 20% from £20m to £24m, all but £2m of which was generated in the UK.

The firm, which specialises in car, CV, plant and equipment and lift truck transport, as well as bulk tanker work, said there had been "stability and in some cases growth" throughout 2011, with only the tanker division continuing to show short-term volatility.

"Our expectation in 2012 is for existing core business to be broadly flat," it continued. "We have no issues in funding the continuing operations of the business and have the ability to grow and invest as the right opportunities either arise or are created by our activities."

A spokesman for the firm told MT the turnaround was down to a combination of new contract wins and tighter control of costs.

Those contract wins included a new three-year deal with Mercedes-Benz for distribution of imported commercial vehicles to dealerships around the UK.