NATIONAL supply chain specialist TM Logistics, which has grown out of the Worcestershire village transport company Taylors of Martley, has turned in another set of solid financial results for the year ending June 30 2008.

The company, which now employs more than 300 people in 16 on-site operations and warehouses across the UK, saw turnover increase by 29.5 per cent to £34.1 million (against £26.3 million for the previous year) and it is predicting to increase this in line with its growth plans.

Pre-tax profits before exceptional items for the year were £597,000 and operating profit, excluding exceptional items, was £765,000.

Consistently strong cash management has resulted in a healthy cash balance of £962,000, despite a significant investment of £2.7 million in new equipment and IT solutions to support the future growth of the business.

Staff numbers have also increased during the year, with an additional 35 employees being recruited to service existing and new business.

Stephen Taylor, chief executive officer of TM Logistics said: “We are satisfied with our latest financial results and they give us a strong platform on which to build.

“As well as expanding our existing customer base, which includes brand leaders such as Kingspan Group plc, Rexam Beverage Can and Saint-Gobain Isover, we successfully grew our warehousing portfolio and we enhanced our people capability by taking on new staff.”