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RH grows on distribution
Page 14
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• Distribution company Rockwood Holdings increased its pre-tax profit by 83% to 21.90m during 1988, according to preliminary financial results announced last week. The firm's turnover rose from £19.90m in 1987 to £109.76m in 1988.
Rockwood is now concentrating on UK and international distribution with its acquisition and merger of £8.30m Walford Meadows in June 1988 and £17m Mercury Airfreight; the purchase of BVS and the expansion of Bonds Delivery, Rockwood Distribution & Defence Systems. Rockwood chairman Tom Forrest is confident that "1989 will demonstrate the value of the network system now created", and predicts that the group will attain a 1989 turnover of £250m.
Plans to make recently acquired Bees Security profitable may include closing down one of its depots and changing the company name.