Clear route ahead for DSV Road after Covid restrictions ease

DSV Road said it increased turnover by 11.5% last year due to the easing of Covid restrictions, customs clearance activities and its acquisition of Agility Logistics.

However, it also saw £1m knocked off its pre-tax profits in the year ending 31 December 2022, to £13.3m

The haulier and freight forwarder, which is part of the Danish DSV Group, saw revenues rise to £222.9m during the period and followed its announcement last year that it was upgrading its full-year outlook after a strong performance in the first nine months of 2022.

In its business review, the company said: “The increase in turnover is the result of trade from Agility Logistics, which was acquired in November 2021, the further easing of the Covid-19 restrictions, allowing businesses to return to normal volumes and revenue generated by customs clearance activities following Brexit.

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“Due to the continuing effects of the pandemic and the war in Ukraine, there has been an increase in the cost base which the company has been able to mitigate resulting in an improvement in gross profit margins from the prior year.”

DSV Road added that the market remained competitive and said that this year its focus was on “strengthening the relevant operational and administration routines required to drive the business forward, together with organic growth by continuing to develop successful business relationships with new and existing customers.

“With the easing of government restrictions and the integration of the Agility Logistics business we expect to see the results continue to improve over the coming year.”