Removals firm Pickfords has more than doubled its pre-tax profit to £2m thanks to better control of fixed costs.
Despite operating in an industry highly influenced by the UK housing market, as well as international moves, the latest results for Pickfords Move Management show profit increased by 111% for the year ending 30 September 2018, from the previous year’s £977,759.
However, turnover fell £4.6m to £59.5m during the period.
In a review of its business, Pickfords described the UK removals market as “competitive” and added: “The company also operates in an industry that is influenced by the number of international moves of personnel by the corporate and public sector marketplace.
“There is current uncertainty in these areas owing to the Brexit process.
“Price pressures from increased competition in the market over the long run could materially affect the performance of the business.”
It said these risks were mitigated by its diverse customer base and barriers to entry.
The company did not respond to requests for comment.
