Yuill & Dodds posts £1.1m loss as O-licence is curtailed
Page 6
If you've noticed an error in this article please click here to report it so we can fix it.
By Roger Brown
ONE OF SCOTLAND’S best known haulage operators, Yuill & Dodds, has posted pre-tax losses of more than one million pounds.
The pre-tax loss at the Hamiltonbased company for the year to July 2010 was £1.1m – up from £382,549 in 2009. Turnover at the irm, which specialises in bulk waste, tipping and general haulage, remained steady at £11.7m (2009: £11.2m).
Adverse winter weather conditions and the construction industry crash were blamed for the loss.
“We estimate these extreme conditions cost the business in excess of £1m”, says the irm in a statement in its accounts.
“Based on the company’s cashlow forecasts and operating budgets, and assuming that trading does not deteriorate considerably from current levels, the directors believe that the company will generate suficient cash to meet its requirements for at least the next 12 months and comply with its banking covenants,” it adds.
Yuill & Dodds says it has recently picked up new business from “two major UK construction organisations” . In September 2010 the company auctioned off a collection of about 50 trucks and trailers through ProTruck Auctions.
However, in another blow, the company had its O-licence curtailed at a public inquiry (PI) in Edinburgh last week from 112 vehicles and 70 trailers to 71 vehicles and 63 trailers, for a period of three months starting immediately.
The PI looked at a series of maintenance prohibitions picked up by the company’s trucks over the past ive years.
No one from the irm was available for comment at the time of going to press.