KLN Freight (UK), formerly Kerry Logistics, saw turnover increase by more than 54% to £96.5m in 2024 as freight rates soared amid attacks on vessels in the Red Sea.
The logistics and supply chain services supplier also saw pre-tax profit increase by 58.8% to £5.6m in the period.
KLN holds international operator licences in the North West and North East traffic areas, in Trafford Park and Bradford respectively.
It said 2024 had been a turbulent year for logistics: “The Houthi attacks on vessels transitioning through the Red Sea led to all ocean services being routed around the Cape of Good Hope.
“The additional costs associated with additional capacity being deployed on this route and the longer transit times resulted in a large increase in freight rates and carrier surcharges from January to September since vessel space and equipment was at a premium,” the company explained.
“The chaotic environment compounded by a rebound in demand and the front loading of container volumes led to a significant increase in gross margin and turnover during this period.”
KLN added: “The company continues to occupy a good position in the UK market for logistics and freight forwarding services, which is highly competitive.”
