Palletline Plc Strong First Half Performance

Palletline Plc has recorded a strong trading performance in the first half of its 2005-06 financial year. Against demanding trading conditions and a low growth market, Palletline plc generated unaudited pre-tax profits of just under £500,000 in the period 1.7.05 to 31.12.05. Commenting on this encouraging start to the year, Managing Director, Glyn Jones, said, “We are particularly pleased to see this return to strong and sustainable profits after the tough year we went through in 2004-05.

“We have radically reduced our cost base by consolidating operations into our extended Tyburn Road site. We have also refocused our attention onto our core activity of providing high quality, competitively priced pallet distribution services through our growing team of independent local members. As a result, throughput has now begun to improve and there are signs that the performance we have seen in the first half of the year will be replicated in the second half. From both a service quality and a financial point of view, Palletline is very well positioned for the future and we look forward to further improving on the solid base that this first six months of 2005-06 represents.”