Bowring Transport bounced back from the initial effects of the pandemic to see revenues grow by more than 6% last year and pre-tax profit increase significantly.
The Mansfield-based family firm reported a £48.6m turnover for the year ending 31 May 2021, up from £45.6m the year before.
Pre-tax profit soared by 88.8% to £1.7m (£909,000).
The company, which provides haulage services as well as agricultural machinery sale and maintenance, farm feed supplies and metal fabrication, did not respond as we went to press, but in its review of the business it said its haulage division had experienced a revenue rise of £283,000.
Read more
“Overheads have fallen slightly compared to the previous year, which has resulted in a £509,000 increase in net profit before tax for this division,” it said.
“Last year’s figures were seriously impacted by the coronavirus pandemic, however they bounced back strongly once the restrictions were eased, and for most of the year were back to almost-usual levels.”
Bowring Transport added that the year had also brought challenges in the form staffing issues and supply chain disruption prompted by the UK’s exit from the EU: “However, the solid foundations that the group has built over the years and the breadth and nature of our business provides us with a solid platform to remain a profitable going concern for years to come,” it said.
