Kinaxia Logistics grew turnover by 40% last year, reflecting the full-year effect of its acquisition spree during 2017 and 2018. However, it made a pre-tax loss of £755,540 after its investment in two major warehousing operations incurred “heavy set up costs”, relating to rent, rates, labour and fit-out expenditure. It said significant due diligence and fee costs relating to acquisitions also hit its profitability, although the majority of these costs are one-offs. The haulage and warehousing group reported revenues of […]
Eight road transport and logistics businesses now have an annual turnover in excess of £1bn.
Kinaxia’s acquisition of AKW Group and Fresh Freight helped deliver a 48% rise in revenues in 2019, but the group’s continuing acquisition drive and IT investments contributed to a loss of £1.8m in the period.
Palletline kicks out member DTS to ‘guarantee network integrity’; haulier blames action for its collapse
Palletline kicked-out member DTS earlier this month in order to “guarantee network integrity”, a move that the Northumberland haulier claimed had forced it into liquidation.