Reed Boardall Group has attributed a huge fall in profit in the year to 31 March 2017 to rising costs driven by an “exceptionally busy” Christmas. Reporting its annual results, the Yorkshire-based cold storage and transport firm saw a 6.9% fall in turnover to £60.2m (2016: £64.3m). Pre-tax profit plunged 80% to £840,646 (2016: £4.2m). In its strategic report to the annual results, the group said the decrease in turnover was also due to “changes in the customer base compared […]
Costs associated with the opening of a new cold store last October at Boroughbridge, Yorkshire-based food logistics specialist Reed Boardall Group had a significant effect on the firm’s pre-tax profit for the year, it has emerged.
Reed Boardall Group saw pre-tax profit rise almost 60% last year despite “fierce competition” in the transport industry and rising fuel costs.
Demand for gas-powered trucks more than doubled last year, despite the Covid-19 pandemic, and could triple this year as operators and their customers ramp up efforts to meet net zero targets, according to industry experts.