Profits up at Steve Gibson’s Bulkhaul

steve gibson

Bulkhaul has reported an increase in profits in its latest financial results for the last year.

The Middlesbrough-based haulage firm, which is part-owned by Boro chairman Steve Gibson, saw pre-tax profits climb £4.2m from £31.5m to £35.7m a rise of more than 13%.

The positive end result came despite a drop in annual turnover in the year to June 30 last year, down from £170m in to £164m in 2015 – a dip of 3.7%.

In a business review accompanying the accounts, Mr Gibson said the firm had a positive outlook for the future, prompting the business to make investments into new tanks to add to the sizeable fleet.

“It is the opinion of the directors that the progress and development of the group can be continued throughout the forthcoming year despite the continuing adverse economic environment,” he said.

“The company has committed to its long-term confident outlook by continuing to take delivery of newly built tanks to increase its already considerable fleet of owned tank containers.”

Bulkhaul, based at Riverside Park Industrial Estate in Middlesbrough, is part of the Gibson O’Neill Company Limited which also owns Middlesbrough FC, Rockcliffe Hall Hotel and Gibson O’Neill Properties.

It specialises in the transportation of bulk liquids and powders, covering European, Pacific and Asian routes.

Mr Gibson founded the company along with Mike O’Neill in 1981, using a £1,000 loan from his father, and the business now operates nine offices across the world, including Singapore, Tokyo, Rio de Janiero and Milan.

Bulkhaul’s highest paid director received £388,110 during the year, compared to £1.56m in the previous period, while staff numbers grew by 10 to 420.

Charity donations during the year amounted to £42,259, which was given to charities providing activities for underprivileged children and funding to other Tees Valley charities and national organisations.

Figures for the performance of the individual businesses are released separately during the year.

 

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