A shortage of warehousing space in the UK boosted Howard Tenens’ turnover and pre-tax profit in its last economic year, due to the operator’s significant property holdings and an increase in demand. For the year ended 30 September 2015, Howard Tenens saw its pre-tax profit rise 52% to £5.1m (2014: £3.4m). Logistics director Jamie Hartles said: “One of the reasons our figures look good is because in the UK warehouse market for storage space, there’s been very little speculative build. […]
The amount of warehousing space being built must rise fivefold if the UK is to keep pace with the e-commerce market, according to research by law firm Addleshaw Goddard.
The collapse of City Link triggered an influx of additional volumes into the large parcels market, Panther Warehousing MD Colin McCarthy has said.