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Welch Transport profits down but Group is stable
Page 13
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WELCH GROUP Holdings recorded a slight increase in pre-tax profits in the year to December 2005, despite a weak performance from its subsidiary WelchTransport.
The Cambridgeshire-based group, which made £505,000 the previous year. saw an increase of £5,000 across its business activities These include road haulage and warehousing as well as driver hire and other business services. The minor increase in group profits came despite a 40% fall in the contribution from its transport subsidiary — around £90.000 less than the previous year.
Group turnover IA as slightly up at £16.9m from £16.4m in 2004. The majority of its turnover still comes from the road haulage and warehousing side of the business. This division contributed £11.5rn, up from £10.7m the year before.
Jim Welch, managing director of the group, says: "We would have liked to make more: the figures are by no means a reflection of the hard work put in by the staff" He also stresses that the accounts for this year will be equally depressed.
Welch Group employs 140 people at four locations within the UK.