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Hanbury Davies boosts profits
Page 6
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CONTAINER HAULAGE specialist Hanbury Davies has boosted its pre-tax profits by over £400,000. The Felixstowe-based operator made £1 .2m before tax in the year ending 2 April 2005, compared with £768,000 for the previous year. Turnover was up from £29.3m to £35.3m. Its parent company, Hanbury Holdings, says it will expand Hanbury Davies' distribution arm through new contracts after it has consolidated its operations with fellow group member Loadwell Contracts, which was bought out by the group last September.
Hanbury Holdings' accounts also paint a positive picture, with pre-tax profits up 108% to £2.5m on a £52.7m turnover.
This exceeded its directors' expectations, but rising fuel costs and "the threat of lower volumes if the mini-recession materialises" are expected to make trading tougher in the next 12 months.