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Massey Wilcox remains confident despite first ever Loss for 55 years
Page 9
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MASSEY WILCOX Transport expects to be back in the black in 2009, after the loss of three clients and rising fuel costs last year led to a £28,355 pre-tax loss.
The Somerset-based firm says that despite making its first pre-tax loss in 55 years of trading, it remains confident. Turnover rose by 0.5% to El 0.99m in the year ending 31 May 2008.
The company's directors' report says it is "disappointed by the reduction in the gross margin earned" and It reflected a 'general increase in the direct running costs from fuel, insurance and wages", which it has not passed on to customers through increased rates.
Bad debts were generated by three customers' failing. Robert Wilcox, the group's managing director tells CM. He says: "The decline of the manufacturing industry hit us hard."