1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200 
Pall-Ex's turnover shoots up but its profit doesn't climb
Page 8
If you've noticed an error in this article please click here to report it so we can fix it.
Leicestershire-based pallet network Pall-Ex has seen its turnover almost double, but profits stay virtually flat according to its latest accounts.
Chris Tindall reports.
PALLET FIRM Pall-Ex dramatically increased its turnover to more than £4m in 2004, though its profits remained almost static. rising by less than 1% to 070,000.
In its latest financial report the pallet network boosted its turnover by almost £1.5m from 2003's £2.5m.
The privately-owned company ploughed £528,000 back into its business and invested more than £1.5m into the holding company's subsidiary firms, including Pall-Ex (UK), Pall-Ex Logistics and Pall-IT The report for the year ending 31 July 2004 also reveals Pall-Ex Holdings is owed £1.2m and has loans of £5.9m, though this was reduced from £6.4m in 2003.
Pall-Ex Holdings, whose tangible assets including its hub in Ellistown, Leicestershire are worth £11.1m, paid its 24 staff wages totalling more than £845,000 last year, up 24% on the previous year.
Its highest paid director received a salary totalling L394,000, up 25% from 2003. Its managing director, Hilary Devey, holds all of the 50,000 issued shares in the company.
Pall-Ex declines to comment on the results. A spokesman adds: "Unlike a listed company we are not under any obligation to provide further information, j ustification, or amplification."
Last week CM revealed that Pall-Ex had admitted breaching health and safety regulations following an accident in which a forklift driver died (CM 9 June). christopher.tindall@rbi.co.uk