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 […]
CEVA Logistics saw its turnover fall by 10% last year due to the non-renewal of existing contracts.
City Link’s profit and volumes suffered as it fell victim to lower than expected demand during the Olympic Games. The parcel firm posted a turnover of £76.2m for the three months ending 30 September, a 2.4% increase on the same period in 2011. It is the first time City Link has reported year-on-year growth in the last five years, Managing Director Dave Smith said. It made an adjusted operating loss of £5.5m in the third quarter, a 19.1% rise on […]
Profit margins continue to be held back by customers’ reluctance to increase rates, John G Russell (Transport) chief executive, logistics, Alan Poulton has warned.