Tag: UK

PalletForce GBP1m pre-tax profit

Posted by | Sep 2, 2004 | |

PalletForce is set to announce a GBP1m pre-tax profit for the year ended August 31, an increase of two-thirds over the GBP600,000 in 2002/3. Year-on-year, volumes rose by 57%. And chief executive Mick Scarlett is predicting sharply improved profitability and more strong growth this year. Profit will rise 150% on a 50% growth in volume, up from 5,000 pallets a night now to 7,500 in a year’s time, he says. Those figures will put the company hot on the heels of rivals Pall-Ex and Palletline according to Scarlett. He says Palletways is out in front as clear market leader by volume. Scarlett says: “It wasn’t our plan to catch up with the big three. We set out to focus on quality, but as a result we have developed a very good name within the sector.”

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Nightspeed expansion

Posted by | Sep 1, 2004 | |

A surge in new business has encouraged Nightspeed Secure Worldwide Express to expand its distribution service and open a new depot in Sheffield, which will better serve new and existing customers in South Yorkshire, and which will create 20 jobs for local people.

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Palletways goes to Phoenix Equity Partners

Posted by | Sep 1, 2004 | |

3i has sold its interest in Palletways to Phoenix Equity Partners for an undisclosed sum as part of a secondary buyout transaction. 3i, which bought the business in April 2002 for GBP12m, says its investment in Palletways has brought it a 72% return.

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Fortec fleshes out fulfilment proposition

Posted by | Sep 1, 2004 | |

One of the later arrivals in the world of pallet networks, Fortec has found its feet, and reckons it has some special benefits to offer. Question: what do pallet networks have to do with fulfilment? Answer: a great deal. You can appreciate this best if you recognise that parcels delivery companies are fundamental to fulfilment, whether it’s business-to-business or business-to-consumer. Pallet networks are really just part of that equation, coming into play at the upper end of the parcels companies’ weight range. You could consider them part of an unbroken continuum that starts with document delivery and extends to full loads of freight.

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How the reward system works; Bonus outcry as UK Royal Mail fails to deliver

Posted by | Sep 1, 2004 | |

Royal Mail bonus schemes last year netted five top executives Pounds 1.5 million, even though the organisation missed all its service targets. They are expected to get at least as much this year. In an effort to defuse controversy Allan Leighton, the part-time chairman, deferred all of his Pounds 144,000 bonus until four key targets are met. His deputy Elmar Toime said he would defer half of it until the same targets were achieved. Adam Crozier, chief executive, and three others, said they would waive the part of their bonus which comes from meeting service standards. But that element amounts to just 20 per cent of the bonus, while 80 per cent is dependent on financial targets. Royal Mail executives are rewarded on an annual basis and also through a three-year plan linked to the recovery programme.

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