Kent-based haulage group Lenham Storage saw only a modest increase in its profit last year due to the soaring price of fuel, despite a 17.6% rise in turnover across the group.
Combined results for Lenham Storage Company and smaller sister-company Lenham Storage (Southern), which are published separately, show that turnover rose from £24m to £28.2m for the year-ending 31 August 2011.
However, pre-tax profit only rose from £562,174 in 2010 to £591,263 (5.2%) in the period.
A spokesman for the company would only say: “It continues to be a challenging environment for the sector.”
However the directors’ report for Lenham Storage Company states turnover growth was off-set by a 16.7% increase in the cost of sales – primarily as a result of the increase in fuel prices.
