Rochdale-based haulier James Nuttall (Transport) has unveiled broadly flat pre-tax profit of £233,796 for the year to 31 December 2008.
Although pre-tax profit increased only slightly over the year before, it is still a reasonable performance given the state of the economy.
The directors' report adds: "During the year, fuel prices increased significantly, which lead to a reduction in the firm's gross profit margin [down to £630,349 from £873,253 in 2007]. Towards the end of the year, the cost of fuel started to reduce and the directors expect that gross profit margins will return to normal levels this year.
"The haulage market is due to remain highly competitive with continued difficult trading conditions due to the downturn in the global economy. The company has a strong asset base and the directors consider that the company is therefore well-positioned to cope with the economic downturn."
During the period the company spent nearly £1m on new vehicles for its fleet, increasing its net debt to £1.06m.
The firm declined to comment.
Related used vehicles for sale
