Turnover at Tilbury and Daventry-based business Arcese UK fell by almost 8% last year, although it said a more focused commercial approach started to bear fruit in the latter part of 2019.
The logistics and freight forwarding company reported revenues of £23m in the year ending 31 December 2019, a reduction of 7.9% on 2018.
Pre-tax losses deepened during the period, to £985,000 compared to £939,000 the year before.
In a review of its business it said it continued to lease vehicles through the Arcese group, but it also replaced older, owned fleet vehicles during the period – with 25 new HGVs delivered between October 2019 and January 2020.
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“There were also further structural changes within the business during the year, seeing a focus on cost reduction, internal training and increased performance management, all bringing about a more focused business approach,” it said.
“A number of strategic contracts were renewed for the coming periods with positive effects on their specific trading outcomes.”
Arcese UK added that any impact on its business by the Covid-19 outbreak was mitigated by the ongoing financial support of its parent company Arcese S.p.A.
