Fred Sherwood & Sons (Transport) turnover remains stuck in reverse after tough year

Fred Sherwood trucks

Challenging market conditions led to a £1.3m fall in turnover at Fred Sherwood & Sons (Transport) last year. The Leicestershire family firm reported a £33.4m turnover in the year ending 31 March 2018, down 3.7% compared with 2017’s £34.7m. Pre-tax profit was £2.6m (2017: £671,688) but the haulier said the increase was due to receiving a £2m dividend from a subsidiary company. In its review of the business, Fred Sherwood & Sons (Transport) said the fall in revenue had occurred […]