News - 29 June 2010
Fowler Welch makes "considerable progress"
Fowler Welch-Coolchain has made considerable progress during its latest financial year, with turnover and pre-tax profit rising despite the tough trading conditions, according to the preliminary results of its parent company Dart Group.
The Spalding, Lincs-based, operator saw turnover rise 9% to £122.5m and pre-tax profit rise to £7.4m in the year to 31 March 2010; profit margin also rose significantly, to 6% from 3.6% the year before. The report adds: "This improved performance was achieved despite the business-driven capacity increases and the effects of the exceptionally severe winter on fuel efficiency." Fowler Welch has recently acquired a 500,000sq ft ambient facility in Heywood, Greater Manchester to replace its existing Stockport site and increase its presence in the North-West. Business will transfer across by Christmas this year, it says, with temperature-controlled facilities added at a later date. Felixstowe container firm Bawdsey Haulage was acquired during the period for a "relatively small sum", adds the report. Fowler Welch-Coolchain is also handling distribution for all Tesco's Express stores in the North-east from its Washington, Tyne and Wear depot. "The commercial outlook at Fowler Welch-Coolchain, while hugely price competitive, looks encouraging," it adds. Source: Roadtransport
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