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Pentalver sees revenues rise, ( 6
Page 8
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despite tough trading conditions
SOUTHAMPTON-BASED Pentalver Transport saw its revenues increase, but its profits slump in 2008.
It admitted that finishing 2009 by breaking even would be a success because of the severity of the current recession.
The company ended 2008 with its revenue up to £63.6m, from £62.9m in 2007, while pre-tax profit tell from £10.7m in 2007 to £6.89m in 2008.
In its directors' report, the firm stated that it had seen the volume of loaded boxes passing through its depots in Tilbury, Southampton, and Felixstowe fall by 11% in 2008, compared to 2007.
Last year, it also increased the average number of employees from 356 to 393, boosting the wage bill from £10.3m to £11.75m.
Managing director Brian Tattersall says the company has suffered as the volume of containers coming into the UK has slumped, Between June 2008 and June 2009 the company cut 50 staff through compulsory redundancy and natural wastage.