Jack Richards & Sons sees year of growth but sounds note of caution

Jack Richards & Sons

Jack Richards & Son increased turnover by 17% last year after benefitting from “a benign market”, according to its MD. However, pre-tax profit at the Norfolk haulier fell from £1.2m to £988,000 in the year ending 31 May 2018. It blamed this on an increase in administrative expenses. The Fakenham-based company boosted turnover to £53.7m, an increase of £7.8m on the previous year. In a statement within the latest financial results, MD Peter Brown said: “Net cash generated from operating activities […]