Knights of Old delivered a “strong financial performance” in the year ended 31 May 2016 despite challenging market conditions, according to its annual report. Group turnover increased by 2% to £49.4m (2015: £48.4m). The strongest contribution came from warehousing, which saw revenue increase more than 30% compared with a flat performance within the firm’s transport operations (up 1% year-on-year). Knights of Old’s directors said they remained interested in further acquisition opportunities having welcomed Nelson Distribution to its group last year, […]
Pre-tax profit fell by a third last year at MT Top 100 company Fred Sherwood & Sons (Transport), despite a 2% increase in turnover.
As hauliers face yet another rise this summer in insurance premium tax, MT looks at what action industry can take to lessen its impact