Tilbury, Essex-based logistics and freight forwarding firm Arcese UK has slumped into the red, but has vowed to increase both turnover and profit this year.
It reported a pre-tax loss of £872,725 in the year to 31 December 2015 compared with a pre-tax profit of £36,928 for the same period in 2014. Turnover fell to £19.1m from £23m.
In their financial report for the year, the directors stated that “the downward trend in terms of trading volumes at the end of 2014, continued throughout 2015”.
UK turnover was hit hardest with turnover falling to £9.3m from £13.6m, but European-generated turnover bounced back with turnover coming in at £9.7m from £9.3m in 2014.
MD Keith Luetchford said the Italian-owned company was seeing "a positive impact from the weak pound.”
The directors noted that rates had once again not been increased in 2015 but that it had looked for cost reduction opportunities “without comprise to service and loyal long-term workforce”.
It said that the reduction in fuel prices had been positive for the business but that a percentage had been given back to clients through a reduction in their fuel surcharge.
by David Craik
