The Palletways Group, Europe’s largest pallet freight network provider which is backed by Phoenix Equity Partners, has announced a 28% increase in annual turnover for the 12 month period to 31st May 2006, with consolidated operating profit before amortisation of goodwill at £2.8m, compared to £2.7m the previous year.
Commenting on the results, Susan Hundleby, Palletways Group Finance Director, said: “The results reflect the continued strong performance of the company’s UK operation, as well as the expansion of its continental European networks. Profitability has remained in line with last year due to continued significant investment in the European network. The profitability is in line with the Group’s planned development and growth
“Consequently we are very much on course to achieve our aim of creating the first truly pan European pallet network for small consignments of palletised freight. We believe that our ongoing development in Europe will significantly benefit the members of our network. This development will open up new business opportunities and enable them to extend their services to customers.”
Key developments across the Palletways Group over the last year have included the launch of networks to cover France and the Iberian region, as well as the acquisition of Palletways Italia. This now means that Palletways has 250 plus locations with nine hub facilities across Europe handling around 20,000 pallets every day.
* Palletways, which was founded in 1994, is today the established market leader in the overnight distribution of small consignments of palletised freight. Its UK national network is centred on a hub operation in Lichfield, Staffordshire. Having collected earlier in the day from their local customer base, all Palletways members trunk their goods into the central hub facility where they are then processed through four warehouses totalling 350,000 sq ft. Utilising Palletways sophisticated “in-house” IT system, they are then sorted into designated delivery areas.
Members’ vehicles then return during the same evening to their local depot with the goods they have been assigned to deliver. From here the goods are despatched to their final delivery points throughout that members’ delivery areas across the UK. Bar-code technology and a consignment track and trace facility monitor the goods throughout the whole process.
* Palletways has the largest pallet network in the UK with 100 plus depots. The company also operates in the Benelux countries, Denmark, France Germany, Italy, the Republic of Ireland and Spain.
* Palletways offers a range of express distribution services for small consignments of palletised freight across the UK. These include next day, next day am, timed delivery options, and Economy 2/3 day.