The M6 toll road owner plunged deeper into the red last year, with its most recent accounts revealing a £42m pre-tax loss. Midland Expressway’s (MEL) turnover dropped by £38m to £51.3m in the year ending 31 December 2020 as traffic on the 27-mile toll road plummeted by 45% due to pandemic-related lockdowns and restrictions. MEL said Covid-19 has had a “profound impact” on the company but that despite this, traffic volumes responded positively to the easing of restrictions. The results […]
Eddie Stobart Limited (ESL) slashed its losses by 77% in 2020 after exiting a number of “unprofitable” contracts, implementing cost cutting measures and applying a new accounting standard.
DX Group has declared it is on the road to recovery, after trimming its annual loss by more than £60m.
Cambridgeshire-based Knowles Transport slipped into the red after operational issues at its – at that point – newly opened Wisbech DC resulted in “significant costs”.