Falling sales almost halve pre-tax profit at Fred Sherwood and Sons

Fred Sherwood trucks

Pre-tax profit almost halved at Fred Sherwood and Sons (Transport) last year, largely due to depreciation charges on asset values, fuel price rises and the falling value of sterling. In its latest published accounts, for the year ended 31 March 2017, pre-tax profit dropped more than 48% to £672,000 (2016: £1.3m), despite a £120,512 write-back against subsidiaries. In the same period, turnover fell over 5% to £34.7m (2016: £36.7m). The results also revealed that the Shepshed, Leicestershire-based company increased its […]