Palletline has enjoyed its best-ever financial performance, with revenues increasing by a fifth to £179.4m.
During the year ending 30 June 2021, pre-tax profit also soared to £3.5m, up from £1.1m the year before.
The palletised freight network said volumes had risen from 17,000 to more than 20,000 pallets a day and had been fuelled largely by the recovery of manufacturing and the growth in B2C, as well as its relationship with ecommerce giant Amazon.
It said that over the next two years it would invest more than £4.5m in property development and expand its sites at Coventry and Birmingham.
Palletline claimed that the multi-hub model it adopts came into its own during the pandemic, enabling the network to contract or expand operations into either its central hubs only or out to its regional hubs.
Graham Leitch, Palletline group MD, said: “The multi-hub model has kept the business strong, enabling us to further enhance our IT and infrastructure instead of treading water to ride the pandemic out.
“Our logistics businesses have also continued to perform well and are making a strong contribution.
“Revenues generated by our owned operations increased by 18% to over £30m and this includes a three-month contribution from Palletline Whitehead, which we acquired in March 2021.”
Eight new member companies have joined Palletline in the last two years.
