Expect Distribution defies pandemic to post 68% spike in profits

Expect Distribution shook off any potential adverse impact from the coronavirus pandemic to deliver a 68% increase in pre-tax profits last year.

The MT Haulier of the Year said the strength and resilience of the company, coupled with its “fantastic, committed team of people” helped it make a £3m profit during the period ending 30 November 2020, compared to £1.8m in 2019.

Turnover remained solid, rising by 2% to £32.8m.

In its review of the business, the logistics company said that despite it being one of the most challenging years it had ever faced, “the directors are pleased to report significant underlying growth and improvement throughout all business divisions in the year, despite the strong headwinds we were faced with.

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“Focus on contract logistics and warehousing solutions were key attributors to the success of the year, in which two new significant long-term deals were won in the latter part of 2020, which will generate annualised revenues of £1.9m.

“Contracted business now represents 35% of the total revenue across all divisions.”

Expect added that it continued investing in its staff and infrastructure during the period: “It is recognised that the development and welfare of our people is the key to our success,” it said.

“We continue to attract the industry’s talent by operating a culture of progression for all involved, which is extremely important in a growing business like Expect.

“The directors remain confident that 2021 will be a prosperous year in which significant growth will continue across all divisions and performance improvements remain at the forefront of our strategy.”