Howard Tenens profits hit by losses at subsidiary as volumes slump


 

Howard Tenens Logistics saw its profits hit as a result of losses made by its subsidiary, Howard Tenens (West London) after two major customers’ volumes dropped by up to 90%. Reporting its annual results to 30 September 2020, Howard Tenens Logistics said its diverse customer base and support from loyal clients has helped it weather the pandemic with turnover up by 13% to £74.8m (2019: £66.6m). However its pre-tax profit plunged to £268,000 (£4.7m) after the company was forced to […]