National supply chain specialist TM Logistics (TML) has turned in another set of solid financial results for the year ending 30 June 2008. The Midlands-based company, which employs over 300 people in 16 on-site operations and warehouses across the UK, saw turnover increase by 29.5% to £34.1million (previous year £26.3million) and going forward, it is predicting to increase this in line with its growth plans. Pre-tax profits before exceptional items for the year ended 30 June 2008 were £597,000 and operating profit, excluding exceptional items was £765,000.
Consistently strong cash management has resulted in a healthy cash balance of £962,000, despite a significant investment of £2.7million in new equipment and IT solutions to support the future growth of the business.
Staff numbers have also increased during the year, with an additional 35 employees being recruited to service existing and new business.
Indeed, TML’s success is underlined by the high volume of repeat business on its books with leading blue chip companies. Recent months have seen contract renewals with European Automotive 1st tier Plastic Omnium, Crown Foods UK and DCS Europe.
The company was also awarded a £1.5m contract to supply Sapa Profiles UK Ltd, part of the world’s largest aluminium extrusion company.
Stephen Taylor, chief executive officer of TM Logistics said: “We are satisfied with our latest financial results and they give us a strong platform on which to build.
“As well as expanding our existing customer base which includes brand leaders such as Kingspan Group plc, Rexam Beverage Can plc and Saint-Gobain Isover, we successfully grew our warehousing portfolio and we enhanced our people capability by taking on new staff.”
Grahame Taylor, managing director of TM Logistics added: “Against the backdrop of a challenging economic climate, the following year will see continued investment to support future business growth and a focus on improving overall operational efficiency.
“As always, our strong performance would not have been possible without the support and commitment of our employees and their dedication has ensured we are well placed for the long term.”
TM Logistics
Tel: 01886 888241
www.tmlogistics.com
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