Contract logistics company DHL Supply Chain said an improvement in microchip supply last year benefited its automotive sector and helped increase turnover to £3.1bn.

It said increased activity in its aviation division following the pandemic also helped boost revenues by 13.4% in the year ending 31 December 2022.

However, in a review of the business signed off by the board, DHL Supply Chain added: “This was partially offset by a reduction in the life sciences sector following an NHS reorganisation project in the year.”

Pre-tax profits increased by 86.5% to £63.3m from £33.9m in 2021.

Operating profit was up 80.5% to £55.7m: “The year on year operating profit improvements reflects the gain on real estate transactions in the year of £26.5m,” it said.

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“This gain was partially offset by an additional impairment on tangible assets utilised of £2.9m in serving the hospitality sector.

“The directors are currently not seeing any significant impact from the war in Ukraine but are continuing to monitor the situation.”

A spokeswoman for the company said it did not comment on its financial performance at a country level.

DHL Supply Chain recently replaced eight diesel trucks in its Aston Martin Fleet with Volvo FH 460 Globetrotter LNG tractor units, reducing its carbon emissions by around 800 tonnes per year.