Bretts Transport said the cost of living crisis, as well as high fuel and inflation costs, was to blame for a 17% reduction in its revenues last year – but operational changes had helped it more than double its profits.
The Cambridgeshire-based operator, which delivers mainly ambient food products, said its figures reflected continuing weakness in the demand from supermarket customers and that it had sought to diversify into new market categories as a result, while remaining committed to the food sector.
Turnover reduced by 17.3% to £13.2m in the year ending 31 March 2024.
However, Bretts also said it had benefitted from the positive impacts of steps taken by its management to improve profitability, through improved operational efficiencies.
It had also reduced its fleet size and changed its charging structure: “These changes are reflected in the improved profit margins and solvency ratio,” it added.
Pre-tax profit during the period grew from £159,000 in 2023 to £372,000 last year – a 133.6% increase.
MD Simon Brett said the company had successfully navigated its way through the turbulence currently plaguing the UK transport industry.
It was now seeking further growth and looking to boost profitability, efficiency and sustainability.
The haulier said it had introduced a new modelling strategy in Q3 2023, which was already paying dividends and enabling it to better utilise its fleet while reducing its carbon footprint:
“The new strategy makes us leaner, fitter and places us in a much stronger position to meet demand and provide a better service to customers,” Brett said.
“This new mode of operating also allows us to respond quickly to customer needs and enables us to utilise resource far more effectively.
“Moving forward, it will also become central to us meeting our sustainability goals, and we’re confident that as we refine our processes further down the line, we will continue to achieve even greater emission reductions while also maintaining the high levels of service our customers expect,” he added.
