Palletline's pounds 1m profit
The group, which operates the UK’s longest established pallet distribution network, recorded a strong trading performance in its 2005/2006 financial year.
Against an increasingly competitive market, the company generated audited pre-tax profits of pounds 1,147,000.
Managing director Glyn Jones said: “We are delighted to see such strong profits, particularly given the highly competitive market in which our members operate, as well as the current business climate.
“The figures reflect the growth in pallet throughput from our existing members, the addition of new members and the ongoing commitment of all members to maintaining the very highest service levels.
“Our performance shows clearly the benefits of the Palletline model of shared member ownership, enabling both the central hub and the local depots to enjoy the encouraging levels of profit derived from a cooperative ethic and commitment to service quality.
“From both a service quality and a financial point of view, Palletline is in a strong position to meet the challenges of 2007.”
Founded in 1992, Palletline was the UK’s first national network dedicated to pallet distribution.
Operating from a main hub in Birmingham with regional hubs in London and Preston, the company employs around 110 staff.
Major clients include blue chip organisations such as Parcelforce and Sainsbury’s.
As well as the UK, Palletline offers deliveries to mainland Europe, Scandinavia and the Irish Republic.
