Turnover at Suckling Transport fell by £9.4m last year due to a reduced demand for road fuels coupled with a partial reduction in long-term contractual business.
In its latest results, the Essex-based haulage contractor said prompt decision making regarding resource levels, significant cost controls and reliance on the furlough scheme enabled its board to control and limit the impact of the pandemic on its business.
Pre-tax profit for the year ending 31 December 2020 reduced by 76.9% to £283,000.
In a review of its business during the period, the company said that despite the challenges, it had been able to widen its customer base and increased revenue with a key customer.
It also managed to boost growth and customer take up in its wider customer service offering such as order taking, scheduling and stock management.
Suckling said: “With stringent control and close monitoring the cash position for the business remained strong during 2020 with no requirements for external funding.
“The company continued to invest in new vehicles and trailers during the year to ensure we maintain a modern and efficient fleet with the latest safety features.
“The trading outlook for 2021 appears positive as Covid-19 restrictions begin to be lifted and volumes start to improve and the company is well positioned to respond to these improving market conditions,” it added.
The company did not respond to requests for comment.
