Hargreaves Services is to “ration” expenditure in its logistics division after it suffered a 91% fall in operating profit last year due to competitive pressure. Operating profit plunged from £1.2m to £100,000 in the year to 31 May 2017, as turnover dropped 11% to £48m (2016: £54.4m). It said this reflected its transition from a focus on coal movements to more diverse volumes in the waste, construction and biomass sectors, as well as pressure on subcontractor margins. Hargreaves said the […]
UK Mail expects volume growth in its parcels division to slow down in the second half of this year as it continues to feel the effects of a weakened retail market and poor volumes in the second quarter.
Tilbury, Essex-based logistics and freight forwarding firm Arcese UK has slumped into the red, but has vowed to increase both turnover and profit this year.
Expanding the range of services it offers to its customers saw NR Evans’ turnover and pre-tax profit soar in the last financial year.