Greater Manchester-based Archbold Logistics saw its pre-tax profit quadruple in 2021 aided by the company’s “significant” investment in its fleet and staff and its focus on delivering a high quality service across multiple sectors.
The logistics company, which is a member of Palletforce, has its headquarters in Heywood, Greater Manchester and has operating licences for 144 trucks and 465 trailers.
It has depots across the country including at Manchester, Scunthorpe, Wolverhampton, Winsford and Middleton and specialises in the retail, foodstuffs, automotive and paper markets.
Its services include pallet distribution, contract logistics, distribution, consolidation services, express and global solutions.
The company also has a track record in dealing with challenging shipping requirements, including urgent deliveries and global consignments.
According to its latest annual results to 31 December 2021 the company’s turnover leapt 49% from £16.8m to £25m with the gross profit margin being maintained at 20% of turnover.
UK turnover jumped to £18.5m (2020: £13.1m) in the period, whilst overseas turnover rose to £6.5m (2020: £3.7m).
Meanwhile pre-tax profit came in at £1.7m for the financial year, a significant rise on the prior year pre-tax figure of £383,553.
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Over the same period, the company’s balance sheet saw net assets increase to £3.2m from £1.4m in the previous reporting period.
It hailed its performance as a “confident return” both during and since the Covid pandemic, which saw it achieve higher than expected figures in both turnover and profit in the period.
It also revealed that it had invested over £500,000 in upgrading elements of its fleet during the year and invested “heavily” in their nationwide teams, increasing staff numbers from 116 to 125 employees to help growth - which it said “continues into this financial year and shows no signs of abating”.
Alan Maher (pictured), Archbold Logistics MD, added: “We are delighted to be able to report such healthy financial figures and it shows a significant bounce back prior to the Covid period.
“The financial performance of the company has resulted from our continued focus on delivering a high quality service to our customers of all sizes and across all sectors. It is also testament to the committed efforts of all our staff and colleagues over the last year.”