Bowker profits boosted by demand for storage space

WH Bowker said it was “pleased” with its trading performance last year after reporting an increase in pre-tax profits, thanks to the demand for shed space outstripping supply amid the pandemic.

For the year ending 31 December 2020, the company saw revenues dip slightly, by 5.6% to £14.1m (£14.9m) but pre-tax profit increased by 7.5% to £443,000.

In its business review, the company, which has bases in Hull, Preston and Ripon, said 2019 had been very positive as companies sought to build up stocks due to Brexit uncertainty.

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It said: “This positive momentum continued into 2020, alongside increased activity arising due to the Covid-19 pandemic and the company sought to capitalise on the fact that demand for warehousing space continued to outstrip supply.”

Bowker added that despite the wider economic impact of the coronavirus and operational challenges such as social distancing measures and PPE requirements, demand for distribution and storage remained high.

Earlier this year, the company announced it had added its Selby distribution centre to the Hazchem network in order to offer specialised ADR services.