New FD and profits boost for Pall-Ex

Pall-Ex UK, the Leicestershire-based pallet network, is back in the black according to newly-released accounts.

The firm made a pre-tax profit of almost £500,000 for the year ending 31 July 2016, against a loss of £462,000 in 2015.

Pall-Ex puts the upturn in its fortunes down to an improved management structure an investment in its IT operations.

Over the year, the the firm added 11 new members in the UK. Pall-Ex says that despite Brexit, it expects to increase trade with its European partners ovr the next 12 months, and that it is looking to increase its B2C offering.

Meanwhile, Peter Paxton has joined the firm as its new finance director, replacing Geoff Gillo who left last month.