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 
Maritime predicts dramatic profit fall
24th September 2009, Page 7
24th September 2009
Page 7
Page 7, 24th September 2009
— Maritime predicts dramatic profit fall
Close
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.
If you've noticed an error in this article please click here to report it so we can fix it.
CONTA IN F.R HAULIER Maritime Transport says it expects a dramatic reduction in profit in 2009 because of the "catastrophic effects of the recession".
While turnover rose at the Felixstowe company for the year to December 2008 to £85.5m, up 25% from £68.5m in 2007, pre-tax profit fell to 0.9m last year, from £4.2m in the previous 12-month period.
The company implemented cost-saving initiatives last year, and used cash to settle financial arrangements to eliminate interest charges
Managing director John Williams tells CM: "The second half, and, in particular, the last quarter suffered from the effects of the global recession, which resulted in a deterioration in volumes and a significant reduction in transport rates.