North East haulage firm Elddis Transport reported “a solid performance” in its latest financial results, despite tough trading conditions. Turnover was £26.1m with a £552,647 pre-tax profit for the year ending 31 December 2015. This was lower than 2014’s £26.9m and £612,735, but MD Nigel Cook said its fuel ratchet rebate scheme accounted for most of the loss, due to falling fuel prices. He told Motortransport.co.uk: “Obviously, it’s a difficult market, but we are running at the budget planned for […]
Lower fuel prices cost Elddis Transport last year, with savings passed onto customers causing a drop in turnover.
Elddis Transport is focusing on efficiency with new trucks and trailers in a bid to mitigate the effect of the rising price of fuel.
An investment in Elddis Transport’s fleet and IT systems and the need to restate its 2016 accounts due to an “adjustment” in the way its hire purchase interest was reported, saw annual profit fall in its latest published accounts.