Palletways reports modest revenue growth but fears pandemic will put further brake on profits


 

Palletways increased turnover by 4% last year, due to more members joining the network, but it warned that Covid-19 is expected to have an impact on its financial performance. Latest results for Palletways (UK) showed that in the year ending 30 June 2019, revenues for the pallet network grew to £197.9m, up from £190m the year before. Pre-tax profit fell by 18.8% to £14.9m and earnings before interest, tax and amortisation reduced by 23% to £13.6m, “reflecting the cost challenges […]