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 […]
Croydon-based PF Whitehead Transport Services increased profits by 2.6% last year on revenues that remained broadly static.
FORS Gold member and tipper haulier P J Brown (Construction) has gone into administration.
Profit margins continue to be held back by customers’ reluctance to increase rates, John G Russell (Transport) chief executive, logistics, Alan Poulton has warned.