Falls in the value of sterling in the wake of the EU referendum have continued to hit Laser Transport International, which saw its pre-tax profit plunge by 64% last year. In its latest results for the year to 31 December 2017, the Hythe-based company reported that whilst turnover had risen by almost 3% to £17.3m (2016: £16.8m), pre-tax profit plummeted to £16.6m (2016: £45.7m) in the period. In its analysis of the results, the Palletline member said that despite “robust” […]
MT takes a look at yesterday’s pre-Brexit budget (29 Oct) delivered by Chancellor Phillip Hammond to see what lies ahead for the logistics sector and UK economy as it approaches a crucial point.
UK automotive manufacturing sector needs further government intervention to ensure post-pandemic recovery, SMMT warns
The impact of the Covid-19 pandemic on manufacturing is expected to cut annual light commercial vehicle production volumes by a third to just 920,000 units this year, according to a report by the Society of Motor Manufacturers and Traders (SMMT).
Draconian measures that will significantly increase red tape and delays for goods sent between the UK and Northern Ireland will go ahead on 1 April, after the government failed to extend a grace period.