Decline in haulage activity hits turnover at Fred Sherwood & Sons

Fred Sherwood trucks

Bulk haulage firm Fred Sherwood & Sons saw its pre-tax profit tumble by three quarters to £644,000 last year as the firm battled declining asset resale values, rising fuel prices and pay rate pressures. Whilst the Leicestershire family firm saw turnover rise in the year to 31 March 2019 to £33.9m (2017: £33,775), this was attributed largely to recharge sales, with haulage turnover declining “slightly” in the period, according to its latest annual results. In the same year, pre-tax profit […]