UPN reveals profitable year and Fortec area collaborations
Melton Mowbray-based transport hub United Pallet Network has reported a “strong” financial performance, making an operating profit of £328,675 for the year ended March 31, 2005.
UPN’s unaudited accounts also state this figure as pre-tax profit. Turnover was £1.98m.
Retained profit brought forward is £162,796 and the total retained profit carried forward is shown as ££21,182.
Assets less liabilities are shown as £337,035.
Network founder and chairman Martyn Chapman received a dividend of £100,000 fot the year. He told Motor Transport this week: “We’re very strong financially—all the figures are up on last year.
We’re a growing company, we’ve invested our money wisely, for the benefit of the members.”
Chapman denied industry suggestions that Fortec Pallet is to acquire his network. “It’s a load of rubbish. Rod Abrahams [Fortec managing director] and I have a gentlemen’s that if either of us has a problem in a region we will help each other out if the member is willing.”
Abrahams confirmed the collaborations this week and scotched any idea of his company buying Fortec. Such a purchase had never been seriously considered and nor would it be in the future.
Fortec is currently helping UPN out in the SY postcodes.
