CARRIERS BOOST COSTS, PROFITS
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A FURTHER boost in profits is reported in the annual report of United Carriers published last week. For the year ended January 29, 1977 turnover reached £14,367,390 (last year £10,959,118); profit after taxation was £1,124,732 (last year £812,543).
Results in the second half of the year were lower than those of the first half because it was not possible to raise prices to cover the annual wage increase negotiated at the end of July, 1976. Chairman, Mr Graham Millard, says major cost increases arising from the Chancellor's Budget must at some stage be pallssed on.
In a year of consolidation, notable for the enlargement of the company's depot at Inverkeithing — completed in time for the autumn peak traffic increase in Scotland — there was concentration on maximising depot capacities.
A new professional parcels distribution company has been launched by United Carriers, known as Sovereign Distribution Service Ltd.
This company, says Mr Millard, will run in conjunction with the parent company and it will eventually be able to offer another nationwide service.
It recently began operations from two depots — Hitchin, Hertfordshire, with a service to Greater London, and Risley, Cheshire, covering Greater Manchester and Merseyside. Further depots are planned to build up the Sovereign Distribution network.
There was some growth in staff during the year with an increase from 1,991 to 2,186 employees. Their aggregate gross remuneration amounted to £6,436,340 (1976 £4,907,096).