Erith Haulage Company saw turnover boosted last year by major contracts with sister company Erith Contractors but the haulier warned that the market will be “challenging” this year.
The Kent-based haulage firm saw turnover rise 3.6% in the year to 30 September 2020 to £28m (2019: £27.04m), whilst pre-tax profit rose to £1.5m, up from £1.09m the previous year.
The strategic report to the company’s latest annual results said the firm’s performance was in line with forecasts, adding that the company’s directors remain “optimistic” about 2021.
The report added that the rise in turnover was “mainly due to the scale and types of work carried out for Erith Contractors” which has contracts on major construction projects including HS2 and Crossrail.
Both firms are part of the Erith Group, which specialises in the construction industry, providing demolition, waste recycling, haulage and remediation works. Other companies in the group are Erith Training, Erith Business Solutions and Swanton Consulting.
Looking to the future the strategic report to the results warned that the haulage market “remains highly competitive with both smaller businesses fostering strong local reputations and larger PLCs competing on price.”
It added: “The directors are of the opinion that the market for the forthcoming year will remain challenging.
“However instigated cost reductions, improved working methods along with our structured pricing policy will ensure continuing profit.”
The company did not respond to requests for comment.
