Hoyer UK MD Mark Binns has said he is “confident” this year will be better than last after the firm reported widening losses for the 12 months to the end of December.
Turnover at the bulk chemical and foods business slumped 11% during 2014 to just under £28.4m (2013: £31.9m) while pre-tax losses swelled over 50% to £2.2m (2013: £1.45m).
Commenting on the performance of the firm, which runs artics for UK work and intermodal tank containers for its international contracts, Binns admitted 2014 had been “a disappointing year” but added: “Business performance has now stabilised and we are confident that 2015 will be a much improved year, despite the loss of some foodstuffs business in the first half of the year.”
Earlier this year, Hoyer Group stablemate Hoyer Petrolog UK - which serves the fuels and bitumen sectors - also reported a downturn in performance in 2014, with turnover falling from £96.1m to £94.4m and pre-tax profit sliding from £3.6m to £2.9m.
Binns, who also sits on the board of Hoyer Group in Hamburg, rejected the suggestion this left the two UK businesses acting as a drag on its German parent, however.
“Hoyer’s businesses in the UK, which continues to be the biggest country operation outside of home country Germany, remain a key part of the group’s 87 country-strong worldwide network.
“We are optimistic about the future and well positioned to take advantage of opportunities and changes taking place in our market and with our customers,” he added.
