Kerry Logistics increased its pre-tax profit by more than 70% in 2020, despite a “very challenging and turbulent year”.
The Manchester-based 3PL and freight forwarder said the pandemic resulted in a significant reduction in activity during H1 and the lockdown in China, followed by the UK in late March, led to delays and shipment cancellations.
However, volumes rebounded strongly in H2 which the company said was driven by high global demand for pandemic related goods such as PPE, as well as increases in production and exports from China.
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Turnover rose to £82.5m in the year ending 31 December 2020 and pre-tax profit increased from £2.4m in 2019 to £4.2m.
Kerry Logistics said its strategic decision to focus on longer term, rather than transactional, customers and to focus on more service orientated customers continued in 2020 even though it led to a reduction in overall volume.
“We have also reorganised and continued to develop and increase our sales and commercial teams,” the company said.
“This has helped secure significant new business volumes during the year which has helped to offset the loss of some customers.”
