Two major business wins helped turnover at Norfolk haulier Jack Richards & Son increase by 13% last year.
MD Peter Brown told Motortransport.co.uk that an increase in business and an improved economic outlook helped turnover at the company rise from £29.7m to £33.8m in the year to 31 May 2014.
Documents filed at Companies House also revealed an 18% increase in pre-tax profit to £814,620 (2012/13: £687,377). Its margin, however, remained flat at 2.4%.
“We had two big contract wins during the year that have helped us grow our business,” said Brown.
The company remains optimistic about its current financial year and this autumn experienced an increase in volumes through its membership of the Palletways network. It is also a member of Harlequin Logistics which, according to Brown, is “becoming a worthwhile consortium” to be a part of.
However Brown admitted that, despite there being plenty of opportunities for the business to grow, attracting new drivers has been challenging. He claimed agency rates went up in September and the beginning of October as operators looked to fill driver positions, but said these are now beginning to return to their previous levels.
“Following the Driver CPC, we didn’t have a lot [of drivers] leave, but we have seen a slight increase in [staff] turnover,” Brown said.
He added the company invested heavily in Euro-5 Daf XF (pictured) and CF trucks last year to avoid the introduction of Euro-6 in January, increasing its fleet to 225 tractor units and 400 trailers.
