Yodel rejects claims it may be seeking buyer

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.

Royal Mail has said it delivered a “resilient performance in challenging markets” despite its group profit falling by a third in the last year.

Costs associated with the opening of a new cold store last October at Boroughbridge, Yorkshire-based food logistics specialist Reed Boardall Group had a significant effect on the firm’s pre-tax profit for the year, it has emerged.