Cert Octavian says it is finally in a position to look at acquisitions and growth, with its successful turnaround plan looking to reach a £1m profit in its financial year ending 30 June 2011.
Anthony Finlayson-Green, MD at the Hertfordshire drinks logistics specialist, revealed this morning to Roadtransport.com that for the six months to 31 December 2010, Cert Octavian made a pre-tax profit of £750,000, while its sister firm, Cert Brands, which specialises in perfumes and cosmetics distribution, recorded a pre-tax profit of £250,000. In comparison, during the first half of its 2009-10 financial year, the businesses made £209,000 and £187,000 profit respectively.
Finlayson-Green says: "We took out significant cost bases by scrutinising route planning, improving fuel usage by driver training and consolidating our property portfolio. A number of contract renewals were also signed, so it was a very positive first half, achieved by hardworking employees. We hope to end this financial year with a pre-tax profit of £1m in the core Cert Octavian drinks division."
The profit rise follows a two-year turnaround plan, from which the business has climbed back from a £1.5m loss in 2009 and a £7.5m loss in 2008. The company says every forecast in the recovery plan has been matched or beaten.
As a result, Finlayson-Green confirms there is an interest in acquisitions. "For the past few years we have had to look inwardly at how we could streamline costs and return to profit. Now we have achieved this we can look outwardly and would not rule out acquisitions or new revenue streams that would benefit the business."
Related used vehicles for sale
