Gloucester Services fuels turnover growth at Westmorland
The addition of Gloucester Services and “strong results” at Tebay Services in Cumbria has seen parent company Westmorland post a 38% rise in annual turnover as well as increased profits.
The family owned motorway services company said its turnover (for the 12 months to June 2015) was £72m, up from £52m in the previous 12 months. Meanwhile, pre-tax profits leapt from £0.8m to £3.6m.
Westmorland cited the first full year of trading at the northbound Gloucester Services on the M5 a key contributor to the growth, as well as the acquisition of Cairn Lodge Services in Lanark and “strong underlying trading” at its more established Tebay services on the M6 in Cumbria.
The financial period also saw the company complete its £45m Gloucester Services project, with the southbound side unveiled in May 2015 and officially opened by HRH Prince Charles in July 2015.
In November 2014, Westmorland bought Cairn Lodge motorway services on the M74 in Scotland and has it plans to invest in upgrades in the future.
The Cumbria-based company, which now employs 1,000 people, said that all of its operations in its home county – Tebay Services, the Rheged Centre, J38 Truck Stop and its Tebay Hotel – had performed well in its last financial year.
“Last year was an energetic year which saw the successful completion of our investment in Gloucester Services and significant growth both financially, in employees and in the number of local suppliers with whom we work,” said Westmorland MD Laurence King. “We look forward to another year of growth as Gloucester Services Southbound completes its first full year of trading”
He added: “The year to June 2015 has demonstrated strong results in each individual business, which is the result of some very hard work by all our valued people and continued commitment from the shareholders through this period of growth.
“We continue to invest in resources and systems required for the management and control of a much larger business and we look forward to seeing further growth in the future.”