Hargreaves Services is to “ration” expenditure in its logistics division after it suffered a 91% fall in operating profit last year due to competitive pressure. Operating profit plunged from £1.2m to £100,000 in the year to 31 May 2017, as turnover dropped 11% to £48m (2016: £54.4m). It said this reflected its transition from a focus on coal movements to more diverse volumes in the waste, construction and biomass sectors, as well as pressure on subcontractor margins. Hargreaves said the […]
Transport and logistics firm Rhys Davies & Sons marked its sixtieth anniversary last year with a 58% rise in profit, the firm’s latest annual results statement has revealed.
Hargreaves Services is confident it can rebuild turnover and profit in its logistics business after the division suffered a 47% drop in operating profit to £2.3m last year.
Pre-tax profit at Nagel Langdons took a hit last year as it saw an increase in lower-margin business.