Unipart ‘continues to grow’ despite £6.1m pre-tax loss

Frank Nigriello

Frank Nigriello

First published in News

BOSSES at logistics, manufacturing and consultancy business Unipart say the firm is growing despite slipping into the red.

Annual accounts for the company, based at Garsington Road, Cowley, show it made a pre-tax loss of £6.1m for the year ended December 31, compared with a profit of £15.8m in 2012.

But corporate affairs director Frank Nigriello said the figures came as a result of “exceptional items” including charges related to the company’s decision to exit parts of its leisure and marine division.

He added: “They don’t affect the commercial position of the group. We are continuing to grow strongly and develop the business positively.”

Mr Nigriello pointed to the fact group turnover had increased to £1.04bn over the year, compared with £978.2m for the previous 12 months.

The business, which employs 967 workers in Cowley, saw its pension deficit increase to £278.5m compared with £203.6m in 2012.

Mr Nigriello said: “Our assets did well but our liabilities grew more than our assets and measures are being taken.

“It is a national issue everybody is facing.

“People are living longer and the markets have not been strong.”

Our top stories:

Delays on M40 near Bicester after vehicle fire

Oxford Mail: Lorry jackknifes on M40 causing traffic tailbacks

7:18pm Sunday 23rd November 2014

THERE are delays of up to half an hour on the M40 after an earlier vehicle fire.

Woman sexually assaulted in pub car park in Kidlington

Oxford Mail: Thames Valley Police logo

6:21pm Sunday 23rd November 2014

A woman has been sexually assaulted in a pub car park in Kidlington.

Horse killed in crash near Steeple Aston

Oxford Mail: Thames Valley Police logo

2:26pm Sunday 23rd November 2014

A HORSE was killed after it collided with a car near Steeple Aston yesterday.

Gritters out tonight as mercury plummets across Oxfordshire

Oxford Mail: Gritter lorries get ready to set out last night

2:17pm Sunday 23rd November 2014

OXFORDSHIRE is set for a cold snap tonight and tomorrow with temperatures as low as -2C expected in some parts of the county.

Have you seen missing 23-year-old Kerri Hutt from Witney?

Oxford Mail:

11:51am Sunday 23rd November 2014

A WOMAN from Witney has been missing since Friday.

Attack in Oxford city centre leaves two men needing hospital treatment

Oxford Mail: Thames Valley Police logo

6:24pm Saturday 22nd November 2014

TWO men were assaulted in Oxford city centre last weekend.

Comments (1)

Please log in to enable comment sorting

10:22am Fri 20 Jun 14

xenarthra says...

We're losing loads of money. But, hey, we're growing, so that's alright then.
We're losing loads of money. But, hey, we're growing, so that's alright then. xenarthra
  • Score: 1

Comments are closed on this article.

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree