Lockwood Haulage saw its annual turnover climb by almost 20% to £17.5m in its latest reporting period, thanks to new wins and the development of existing partnerships.
Keith Allsop, Lockwood key account manager, told MT that the growth in its haulage division was a result of “agreeing further commitment” with long established customers.
This also led to an increase in its fleet numbers, as well as winning new business.
Pre-tax profit in the 12 months to 31 January 2018 at the haulage operation climbed 34.9% to £871,554 (2017: £646,055).
Lockwood Haulage, a Palletforce pallet network member, is part of a group comprising of seven subsidiary businesses.
This includes warehousing, vehicle service and repair and the manufacture and distribution of mushy peas. The group also contains MAN truck dealership HVRS.
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Group pre-tax profit was £1.54m in the period (2017: £1.56m). Group turnover was up nearly a fifth at £46.9m (2017: £38.7m).
Allsop added: “We have seen a continued growth in our warehousing operation, again through existing and new business wins, we have also seen a big increase in our contract packing business - our ability to offer a ‘one-stop shop’ from receiving goods into our warehouse to final delivery for all potential clients.
“We are confident that we will see this growth continuing post-Brexit, therefore we have also invested in a new purpose-built 110,000ft² high bay warehouse facility, giving us a further 22,000 pallet spaces.
“This will be operational in spring 2019, and takes our overall warehouse offering to over 50,000 pallet spaces.”
