Reed Boardall Group’s profit plunges 80% but firm says recovery’s underway

Reed Boardall
 

Reed Boardall Group has attributed a huge fall in profit in the year to 31 March 2017 to rising costs driven by an “exceptionally busy” Christmas. Reporting its annual results, the Yorkshire-based cold storage and transport firm saw a 6.9% fall in turnover to £60.2m (2016: £64.3m). Pre-tax profit plunged 80% to £840,646 (2016: £4.2m). In its strategic report to the annual results, the group said the decrease in turnover was also due to “changes in the customer base compared […]