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Tellings acquires Hylton Castle Motors

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TELLINGS has announced the acquisition of Tyne and Wear-based Hylton Castle Motors which will be integrated into its existing Classic Coaches operation, managed by Ian Shipley. Seven coaches are included in the sale plus staff, plant and goodwill.

The announcement co-incides with preliminary results for the Tellings Golden Miller group for 2005 which show a pre tax profit of £14million (£2.9million 2004) reflecting the sale last year of the London bus operations to National Express Group.

Turnover on continuing operations doubled to £30.1million (£14.5million: 2004) resulting in an operating loss of £0.8million (£1.3million profit: 2004).

Group chairman Steve Telling reported that fuel and staff costs have created difficult conditions for the group over the past year with losses reported on National Express operations and “significant losses” at Burtons. “Having largely reshaped the Group, the next steps for us are to reduce the impact of central costs by profitable expansion and restoration of operating margins,” says Telling. “The upward pressure on drivers' costs due to the current shortage of drivers and the ever tightening of regulations are pushing costs upwards. Cost control and maximising the utilisation of our fleet will be our watchwords for the coming year.

“For the future, the coach industry will continue to be under attack from low cost airlines who seek to fill surplus winter capacity with school holiday business previously the domain of the coach industry.”
Telling noted however that there has been an encouraging start to the year in all divisions with the exception of Burtons.

www.tellingsgoldenmiller.co.uk


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