DSV Road profits rise despite slip in turnover

DSV Road saw turnover decrease by 10% last year under the challenges of the pandemic but said it was satisfied with its overall performance.

Reporting its latest financial results for the year to 31 December 2020, the company, which specialises in freight forwarding, haulage and supply chain services, had turnover of £177,768,000 (2019: £197,522,000).

Pre-tax profit leapt 78.3% at £16,177,000 (2019: £9,073,000).

The business review to the results confirmed that the decrease in turnover was the result of the challenges presented by the pandemic but that gross profits had improved "due to the continuing management focus on improving opertational excellence".

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"The directors are pleased with the performance of the company and believe its culture provides a strong and flexible platform from which to compete in a very competitive industry," the statement continued.

Commenting on the future outlook, it said the market remains increasingly volatile, driven by the implementation of Brexit.

"The company's focus will continue to be on implementing the relevant operational and administration routines required for the post-Brexit situation, together with organic growth through developing successful business relationships with new and existing customers," it added.