Potter Group sees slump in profits

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The Potter Group has reported a profit before tax of £320,000 for the year ended 30th April 2009, down from £840,000 the previous year.

It says profits were affected by the demise of retailer Rosebys, which had its national distribution centre at the group’s Selby site.

The facility was subsequently re-let to The Clipper Group, which signed a ten-year contract to fulfil an internet shopping operation for a high street retailer.

Matthew Lamb, The Potter Group’s managing director, said: “Last year was a tough year for the industry with the onset of recession and we could not fully escape its effects.

“The break between Rosebys and The Clipper Group had an immediate impact on our results and transport operations continued in an adverse environment from both a cost and revenue perspective.

“However, with the underlying strength of the business we stayed in profit and have started to turn our performance in the right direction.

“Over the past 12 months we have secured significant new business in the pharmaceutical and chemical sector with new clients such as the Flint Group, Clariant and Eli Lilly, while our expansion into the waste and recycling industry continues.”

He added: “Traditional revenue opportunities in the agriculture and bulk transport sectors are also leading to improved sales and profitability.”

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