Leeds-based Bedfords Group has made “significant progress” in adding new streams of business, according to its latest results, despite recording a pre-tax loss of £221,415 last year.
The group, which is owned by SP & PL Holdings, is made up of Bedfords, LinQ Alliance and RPL Transport, which it bought in 2014. It specialises in transporting printed matter, printing materials, packaging, homeware, kitchen furniture and building and garden products.
Reporting its results for the year to 2 October 2016, the group revealed a dip in turnover to £19.4m (2015: £20m) and a pre-tax loss of £221,415 (2015:£1.09m profit) in the period.
Bedfords said that while net results for 2016 were “significantly lower” than the previous year, its trading performance had improved markedly in 2016, with all three trading entities winning new customers in existing and new markets for the second year running.
The firm is restructuring its business under the leadership of Lee Nichols, who became MD in July last year. The move saw chief executive Steff Pfadenhauer, who owns 80% of SP & PL Holdings, take a part-time role at Bedfords.
In its results, Bedfords said it is continuing to reduce its dependence on a few large customers, mainly in the print market. Its acquisition of RPL Transport in 2014 has also extended its geographic reach and added new customers and markets, the group added.
Other improvements in the year include the upgrade of “the structure, reach and flexibility” of its core fleet.”
The firm, which has 129 staff, down from 145 in the previous year, operates a fleet of 120 tractor units and 300 trailers from its premises in Birstall in West Yorkshire Yorkshire and Milton Keynes.
Bedfords was unavailable for comment as this article was published.