Temperature-controlled specialist Nagel Langdons saw its turnover rise 16% in 2016, but has warned that increased consumer price pressures as a result of Brexit could affect the stable growth generally associated with the sector.
Turnover rose to £115.7m for the year-ending 31 December 2016, up 16% from £99.8m in the previous financial year, while pre-tax profit rose to £5.5m, up from £3.8m.
In October Nagel Langdons took control of its sister company, Nagel Langdons (UK) – which increased sales by £5.8m and profit by approximately £100,000
Speaking to MT, MD Arran Osman, said that he was pleased with progress the company had made, “particularly as our long history dictates it’s not just a one off set of strong results but further illustration of our robust and progressive evolution as a maturing part of the Nagel Group”.
He explained that the integration of Nagel Langdons (UK) into the main trading business back in October had created “a seamless connection to our unparalleled network across the major powerhouse economies of Europe and beyond”.
“A former director of ours talked proudly of how we reliably connected customers in Penzance with consignees and consumers in Perth by delivering single pallet fresh and frozen through our network overnight, we can now realise the unique capability to do something similar between Penrith to Poznañ as part of the enlarged UK business,” he said.
In its filings to Companies House, the directors report stated that the temperature-controlled sector had historically seen “steady stable growth” but said that there were indications that there are changes occurring within the sector, with “increased price pressures due to Brexit”.
“Hard, or soft, Brexit our nations’ outward looking approach will demand that imported and exported food and drink continues successfully in turn forming an important part of our GDP,” said Osman. “So no matter how big, or small the enterprising customer, we are able and willing to accommodate their international activity.”
