Associated Cold Stores & Transport “in strong position” despite profits slump


 

Associated Cold Stores & Transport (ACS&T) said it ended last year in a strong financial position after Covid-19 resulted in a 17% reduction in turnover and knocked almost two-thirds off its pre-tax profit. The Grimsby temperature controlled storage and distribution company said market conditions had been “challenging” in 2020, particularly after schools closed and the hospitality sector shut down. Warehouse utilisation increased by 10%, but it said average pallet throughput fell by 23% and total loads transported decreased by 22% […]