Food distribution specialist Fowler Welch more than doubled its operating profit in the first half of the current financial year, its interim report shows.
Released today, the results for the six month period ending 30 September 2015 show a 118% increase in the firm’s operating profit to £3.5m (2014: £1.6m).
However its revenue saw a 7% fall from £78.1m to £72.3m.
The results show the company, which is the logistics and distribution arm of parent company Dart Group is operating fewer tractor and trailer units than it was in the same period last year. As of 30 September 2015 the company was running 420 tractor units, compared to 450 the same period in the previous year, and 637 trailers (H1 2014: 640).
The fleet’s overall mileage also decreased, falling from 21.4m miles to 19.5m miles.
Fowler Welch is ranked 28th in this year’s Motor Transport Top 100, down one place from last year. The whole list is available now.
