ArrowXL sees profit plunge 70% due to hub fire and tough retail environment

ArrowXL two person delivery
 

A major fire that destroyed ArrowXL’s Worcester hub, combined with a “deteriorating” retail environment, dealt a body blow to the company’s pre-tax profit last year. Reporting its annual results to 30 June 2018, the Yodel sister company, which specialises in two-man delivery and installation services, unveiled a 70% plunge in pre-tax profit to £862,000 (2017: £2.9m). Annual turnover also declined in the period to £78.1m (2017: £82.6m). In its strategic report to the results, the company said that the business […]