Profit and turnover down but Pickfords still on the up

Removals firm Pickfords suffered a small decline in turn-over and profit in the last financial year but still managed to keep well ahead of its performance two years ago.

In the year to the end of September 2015, turnover fell 3.75% to £67.2m (2014: £69.8m), while pre-tax profit was down 6.9% at £3.6m (£3.8m), leaving the firm with a margin of more than 5%.

Last year’s results were, however, up 20% in terms of turnover and 141% in terms of pre-tax profit, compared with the previous year to 30 September 2013.

Pickfords went through a pre-pack administration in November 2012 that saw it sold by the administrator for former owner Moving Service Group UK to Pickfords Move Management – a new company set up by its directors. It did not respond to a request for comment on the results.

The figures underline the company’s successful turn-around since it went into administration, before which is lost £1.7m on a turnover of £69.8m (September 2011).

UK-generated turnover in the last financial year rose 3% from £36.6m to £37.8m; overseas revenue fell almost 12% from £33.1m to £29.2m.