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Park Logistics - Creating supply Chain Solutions

Creating Supply Chain Solutions
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Bibby returns profit of £4.6m

  • 04 June 2014
  • By Christopher Walton

Bibby Distribution has returned a profit for the financial year ended 31 December 2013 after it suffered a loss in its subsidiary System Training in 2012.

Bibby Distribution Services (Holdings) turned a pre-tax loss of £4.6m in 2012 into a pre-tax profit of £4.6m in 2013. Turnover was broadly flat at £252m, compared with £255m in 2012.

Last year System Training made a pre-tax loss of £7.5m, bringing down overall group profit. In its annual report filed at Companies House, Bibby said the operating loss in the subsidiary was reduced by £5.3m to give a marginal operating loss of £500,000.

It added that the business was now “more streamlined and focused” and that work was continuing to return it to profit.

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Article source: http://www.commercialmotor.com:80/latest-news/bibby-returns-profit-of-%C2%A34-6m