Fuel price volatility dents profit at John Hackling (Transport)

John Hackling Transport saw a fall in pre-tax profits last year, according to its latest financial results as fuel prices remained volatile.

The third generation family business, which is based in Gloucestershire operates a fleet of 75 trucks and 85 trailers HGVs out of two bases, in Cheltenham and Swindon and is a member of Hazchem and Palletline.

In its latest financial results the company has revealed a fall in pre-tax profit to £430,229 for the year ending 30 September 2021, down from £561,645 in the previous year, despite turnover rising to £18.7m (2020: £16.9m). Net assets rose to £17m (2020 - £16.6m).

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In a review of the business, the directors of the haulage and warehousing firm said they considered “the performance for the year and the financial position at the year-end to be satisfactory”.

Noting that competition from other national haulage contractors and fuel prices are considered key challenges to the business, it added: “The external commercial environment was expected to remain competitive during 2022. However the volatility of fuel prices had, and will continue for some time to have, a significant impact on results"

It added: “Actions taken by the company put the company in a good position to continue to react and operate while monitoring the situation.”