John Hackling profits up 173% despite dip in turnover

Profits at John Hackling Transport soared last year, its latest financial results revealed.

The Gloucestershire warehousing and haulage contractor reported a 173% increase in pre-tax profit for the year ending 30 September 2020, to £562,000.

Operating profit also increased, from £386,000 in 2019 to £705,000 during the period.

Turnover fell slightly, by 2.9% to £16.9m.

In a review of the business, the directors of the third generation, family-run business said it had performed in line with expectations during 2020 and that the financial position was “satisfactory”.

It added: “The key business risks and uncertainties affecting the company are considered to relate to competition from other national haulage contractors and changes in external factors which influence the company’s cost base, particularly in respect of fuel prices.

“Furthermore, it is difficult to evaluate all of the potential implications of the current Covid-19 outbreak on the company’s trade, employees, customers, suppliers and the wider economy.”

The company operates under a standard international licence authorising a total fleet of 75 HGVs out of two bases, in Cheltenham and Swindon.