Pallet networks have enjoyed a business boom thanks to the UK’s marathon hot spell, according to the boss of Pallet-Track.
“We’re not on our own, but we’ve seen a significant uplift of around 18% growth in the past quarter,” Nigel Parkes told MT.
“I suspect all networks have experienced the same, as we all move such a variety of goods. There was a stutter at the start of the year with the snow but this run of weather has more than compensated for that,” he said.
The network, which is approaching 90 haulier shareholder-members, enjoyed a strong twelve months to 31 January 2018, its accounts show.
Hub revenue climbed 6.9% year on year to £13.7m. Network delivery revenue was 7.4% higher than the same period a year ago at £69.5m. Total turnover was 7.2% ahead of the previous period at £83.2m.
The business made a pre-tax profit of £3.4m (2017: £2.8m) despite an increase in cost of sales in the year. It paid shareholders a final dividend of £12 per ordinary share in the period.
Pallet-Track opened a £10m northern hub at Ashton-in-Makerfield, Greater Manchester, during the period.
Parkes said the network was now gearing up to introduce a “significant product” by the year end that will be its biggest change in technology since the business was founded in 2004.
It came as Pallet-Track prepared to take legal action against its former member Canute.
