London,EN,UK -Road Transort, by Joanna Bourke -2 November 2010: -- Parcelforce has posted a 14% rise in operating profit to £8m for the six months ended 26 September. Turnover increased by 3% to £197m from £191m in the first half of 2009... The firm's core mail and Post Office divisions experienced falls in both profits and sales, contributing to a 71.7% drop in group operating profit to £52m from £184m, and a dip in revenue to £4.4bn from £4.57bn... During the period, the number of employees fell by 2,800, the majority of whom were from the mail business. However, the company says further restructuring is on the way... Recent investments at the company include £2.6m pumped into increasing flexible delivery times and Parcelforce launching a palletised overseas service...
* Cambridgeshire - Turners beats recession and lifts profit margin to 10.3%
Soham,Cambridgeshire,EN,UK -Road Transport, by Dominic Perry -6 October 2010: -- Family-owned haulier Turners is weathering the recessionary storm according to the directors' report accompanying its latest accounts... Although it saw turnover fall to £195m from £217m (including revenue from joint ventures) in the year to 2 January 2010, in fact, profit margin actually improved to 10.3%, up from 9.4% the year before... It attributes the improved margin to cost cutting as a response to the recession: for example, staff numbers fell to 1,758 from 2,011 in the previous period... This year the firm acquired Felixstowe-based container haulier Dart Distribution to give it a greater presence in this sector and says it has substantial cash reserves to fund future acquisitions "when opportunities arise"...
* West Midlands - T&P Logistics ‘cannot continue its business’
Wednesbury,West Midlands,UK -Road Transport, by Joanna Bourke -3 November 2010: -- T&P Logistics has entered liquidation with a deficiency of more than £200,000... The family-run logistics firm called in liquidators Claire Foster and Fiona Grant of Wilson Field on 21 October... The appointment follows a creditors' meeting, where it was deemed insolvent... After preferential creditors were paid, the business had assets of £7,009, but owed unsecured creditors £224,997 and shareholders £100. It leaves a deficiency of £218,087...
* West Midlands - S&V Naylor Transport forced into liquidation
Wolverhampton,West Midlands,UK -Road Transport, by Chris Tindall -3 November 2010: -- Haulier S&V Naylor Transport is being wound up after going into liquidation... Insolvency practitioner Laurence Burt at recovery expert Ganley Burt in Northwich was appointed as liquidator on 14 October... Non-preferential creditors are unlikely to see any return according to the firm's estimated Statement of Affairs... The company ran seven vehicles and seven trailers out of two operating centres; one belonging to fellow Midlands haulier and creditor J Hayward & Sons and another in Brigg, Lincolnshire...
* Manchester - Pioneer Logistics calls in liquidator
Trafford Park,Manchester,EN,UK -Road Transport, by Joanna Bourke -1 November 2010: -- Manchester firm Pioneer Logistics has gone into liquidation after its debt to HMRC swelled to over £100,000 in four months... Pioneer called in joint liquidators Steven Draine and Michael Finch of Moore Stephens on 19 October. The statement of affairs shows the company owed HMRC £100,852 for three missed payments of deferred PAYE, VAT and duty... The firm, which had an O-licence for 13 vehicles and six trailers, owes unsecured creditors £400,201 with a deficiency of £318,722... However, a new company called Pioneer Logistics International was set up by Kevin Williams and Ian Fowlds, two of Pioneer's directors, on 5 January, with the same registered address...Labels: trucking industry news UK
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