The Pallet Network expects turnover and profit to rise

The Pallet Network (TPN) is expecting annual pallet throughput to increase by 100,000 this year, as it looks to reverse the fall in turnover and pre-tax profit it suffered last year.

For the 12 months to 31 March 2009, TPN saw pre-tax profit fall to £2m - down 9.5% from £2.2m in 2008. During the same period, turnover dropped 0.8% to £37.8m.

Speaking exclusively to Roadtransport.com, TPN's financial director John Bowers says: "The profit and sales drop last year can largely be attributed to 2009 volumes being 10,000 down on the previous year. The recession really did bite into the network, and we really felt the pinch from September 2008."

However, Bowers adds that pallet volumes for March 2010 are expected to be 100,000 higher than in March 2009.

"I would expect March 2010 results to be well above figures from last year, and we are on track to achieve this," he says.

On 4 January, the company moved from Rugby to its new 301,000ft2 warehouse at Prologis Park Midpoint in Minworth, West Mids.

Managing director Adam Leonard believes the new site will help to attract members to the network.