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Profits reach £4.6m at parent company of Northern Ireland transport firm

By Margaret Canning

Published 01/07/2016

Dessie Smith, a driver with the Montgomery Group's distribution department
Dessie Smith, a driver with the Montgomery Group's distribution department

Pre-tax profits at the ambitious parent company of lorry firm Montgomery Transport have grown nearly 40% to reach £4.6m.

Turnover at Ballyvesey Holdings, which is based in England but run by the Northern Ireland Montgomery family, also increased by 9% to reach £613m over the year to September 2015.

The company, which bases its operations in Newtownabbey, operates chiefly in transport services, trailer manufacture and vehicle sales.

But in recent years it has expanded into providing finance deals for customers, as well as plant dealership and metal recycling.

A strategic report filed with the accounts said directors were "pleased" with the increase in pre-tax profits.

"We will continue to identify and develop business opportunities within our industry sector with the view to continued growth both organically and by acquisition," it added.

But it also warned that the transport and logistics business was "extremely competitive" with severe competition from operators at home and overseas.

In addition, the sector is expected to come under pressure in the aftermath of Brexit- particularly if a deal between the UK and EU does not include full access to the single market.

The Freight Transport Association said leaving the EU risked "new costs, restrictions and bureaucratic requirements being imposed on moving goods in and out of Europe - and that includes transport operations crossing the UK's only land border with the Republic of Ireland".

Ballyvesey subsidiaries in GB include Montracon, Eurofleet Rental and Heathrow Truck Centre, while here it owns East-West Transport, Dukes Transport and JE Coulter.

Belfast Telegraph

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