Northern Ireland

Profits rise for transport firm Ballyvesey Holdings

Montgomery Transport
Image caption Ballyvesey Holdings owns Montgomery Transport

One of Northern Ireland's largest transport businesses has reported a big rise in annual profits.

Ballyvesey Holdings - owner of Montgomery Transport - made a pre-tax profit of £5.5m in 2010, compared to a £1.4m profit in 2009.

Turnover was up just slightly from £269m to £272m. The rise in profits has been put down to increased efficiency.

However, its directors have said the business environment remains "extremely challenging".

They said a key risk is the ability of the banks to provide funding to their customers.

Ballyvesey Holdings' other businesses include vehicle sales and rentals, construction equipment maintenance and a Polish recruitment firm.

The firm is based in Newtownabbey and led by founder Harold Montgomery.

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