Palletways announces continued european expansion
The Palletways Group has announced a 19 pct increase in annual turnover for the 12 month period to 31st May 2007, with consolidated operating profit before amortisation of goodwill at GBP 2.9m, compared to GBP 2.8m the previous year.
Commenting on the results, Susan Hundleby, Palletways Group Finance Director, said: “The results reflect the continued expansion of the Palletways network and the planned investment to support this expansion to achieve its vision of being a truly European business.”
“The reporting period saw the successful transfer of the Palletways business model into the Spanish market. Key investments included rolling out a new central hub facility in Alcala de Henares, near Madrid, and enhancing interconnectivity between the domestic European networks.”
“This year also saw the beneficial acquisition and integration of Palletways Italia S.p.A. into the Group’s network. Palletways continues to develop its fully integrated and wholly controlled networks to provide domestic and European pallet distribution services. This provides our members with a unique and profitable opportunity to extend their services to customers.”
Palletways today has circa 250 locations across Europe and handles around 80,000 pallets a week via nine hub facilities.
