BULK cargo handler NW Trading is on course to reach a turnover of £40m in 2008, after less than a decade in business.

The Birkenhead-based company handles around 400,000 tonnes a year of fertiliser products, bulk chemicals and steel and industrial urea for resin production.

Chairman Colin Littler said: “Tonnage and business is growing steadily and turnover this year is expected to be £40m as against £26m last year.

“We have increased our workforce and continue to invest new equipment such as tipper trucks, loading shovels, forklift trucks and conveyor belts to meet demand.”

The business is run from a 325,000 sq ft warehouse at Cavendish Quay and also operates from Hull, Goole and Southampton.

The story has been one of impressive growth in recent years as the accounts for 2007 reveal. Sales last year reached £25m from £16m while profits before tax topped £2m compared with £570,000 in 2006.

In his annual report, Mr Littler stated: “Following restructuring in 2006, the group continued to expand and also completed the acquisition of South Dock Terminal Ltd and Caldaire Terminal, in Goole.

“The group has continued to invest significantly in new plant and equipment in order to service the increasing volumes being handled over the quays. We are committed to continuing with this policy.

“The company has renewed and acquired significant volumes of business and anticipates increased turnover and profitability in 2008.”

Numbers of employees also increased substantially with 25 staff in 2006 rising to 67 the following year. As a result, wages and salaries increased from £421,000 to £3m.

Three directors were paid £216,190, the highest receiving £84,673.

Bank loans and overdrafts amounting to more than £1.1m are secured by a fixed and floating charge over the company’s assets.

Shareholders’ funds amounted to £528,259.

BARRY TURNBULL