ICL shows steady progress
Initial City Link has reported an £11.22m increase in turnover to £119.45 for the year ended 26 Dec 04. Pre-tax profit was £17.01m in 2004, compared with £15.15m the previous year, an increase of 12.3%. Its directors view the future with confidence, the report to Companies House says.
The parcel firm’s debtors stood at £36.84m in 2004, compared with £35.7m in 2003. The company set up a trust fund to account for gods in transit liability claims in Jan 22005. In 2004 the company employed 1,778, up 12.9% on the 1,575 in the previous year. Staff costs rose 13.02% form £33.01m in 2004 to £29.21m in 2003.
