Currie European Transport returned to the black last year for the first time since 2015, despite challenges relating to Brexit, Russia’s invasion of Ukraine and significant fleet operating costs.
For the year ending 30 June 2022, the haulier reported a £253,000 pre-tax profit and said it was pleased with the continued positive progress the business was making.
Turnover fell 5.8% to £34.4m during the period.
The company said it was still dealing with cross border challenges post-Brexit and it was now also dealing with “unprecedented cost increases” due to the war in Ukraine, which it was now passing on to its customers.
In a strategic report, Currie European Transport said: “Our UK transport services have remained resilient throughout the year and we are pleased with both financial and service improvements.
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“Fleet operating costs have increased significantly and continue to do so, which means we are constantly reviewing our customer pricing.
“Fuel prices remain extremely volatile and although driver shortages have eased there remains a shortage of new drivers entering the industry.”
The company added that it was experiencing lower export volumes and improved import volumes across its European full load services, which was causing difficulties in retaining consistent efficiency: “We have had to ship an increased number of empty trailers from the UK to Europe to ensure we can meet the import demands,” it explained.
Meanwhile, Laser Transport – the company Currie acquired in June 2021 – reported pre-tax profits of £728,000 during the same period, an increase on 2021’s £132,000.
Turnover was £21m, a 17.5% reduction compared to £25.5m the year before.
