UK Nightfreight gets Burbidge contract
Nightfreight is on the road to success after signing a major deal.
The contract is with decorative timber building products manufacturer Richard Burbidge for three years.
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Profit leap for Nightfreight
Overnight freight and parcels courier Nightfreight managed a 32% increase in profit on the back of sales that were only 13.7% higher in 2001.
The figures, achieved in a highly competitive market place, suggest that the company’s management, who led an MBO early last year, were on the right lines with their subsequent restructuring of the business. And independent research has shown that Nightfreight now has the biggest share of the UK mixed parcels and IDW (irregular dimension and weight) market.
CEO Robert Kelly, who led the Barclays-backed MBO, said: “We recognise there is still a long way to go but by freeing ourselves from the shackles of a plc, we have made impressive strides over the past 12 months.
THE NEW NIGHTFREIGHT DELIVERS A RECORD PERFORMANCE
One year on from a management buyout (MBO), Nightfreight has
refocused and streamlined its overnight freight and parcels delivery
service, repositioned the company, achieved market leadership in the
mixed parcels and IDW (irregular dimension and weight) freight niche
and delivered an impressive set of trading figures in a very competitive
market place.
• Sales increased by 13.7%
• Profit up by 32.8%
Nightfreight review of performance and trading results
Nightfreight review of performance and trading results
In February 2001, Nightfreight plc was the subject of a management buy-out backed by Barclays Private Equity Limited. Nightfreight plc was de-listed from the stock exchange, taken into private ownership, and the Group now operates as Nightfreight Holdings Limited.
ABX Logistics aquires Nightfreight – European Freight Forwarding Division
UK – ABX Logistics, a unit of Belgian State Owned NMBS/SNCB planned to aquire the European Freight Division of Nightfreight International Logistics Ltd.
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