Elddis Transport (Consett) saw its pre-tax profit more than double in 2021 aided by “significant” revenue growth in its warehousing business and the expansion of its Consett site.
The County Durham-based haulier, which is a founder member of the High Cube Network and a Palletforce member, specialises in FMCG, general road haulage and warehousing and employs around 320 staff.
In its latest annual results for the period ending 31 December 2021, the company hailed its “solid” performance in the face of the ongoing challenges of the pandemic and the driver shortage.
Turnover remained steady at £28.8m (2020: £28.9m) whilst pre-tax profit rose to £1.2m from £502,000 in 2020.
In its strategic report to the results the company said the driver shortage crisis added a “further layer of challenge” which it tackled by instigating a “fundamental” review of pay rates to stabilise staffing levels.
At the same time the pandemic continued to impact on business requiring the firm to “perpetually appraise customer demand, supplier availability and resource utilisation”, the report added.
On the upside Elddis’ warehousing business, particularly at its Gamston site in Nottinghamshire, saw “significant” revenue growth in the period, both in pallet storage and added value service provision and the addition of several new customers during the year.
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The company also sold its Durham depot in July 2021 using the proceeds to buy premises adjoining its Consett headquarters in a move aimed at “strengthening and developing our core offering against the backbone of a robust and solid depot foundation”.
Key benefits included the expansion of the site’s frontage and better access to the depot’s North-East cross-dock operation.
Elddis also delivered “a significant level of development work” in the period on Newton Aycliffe site, which it purchased at the end of 2020.
Both developments resulted in the company gaining updated and improved property valuations against the full portfolio, reflected in its headline accounts.
Elddis also invested in its vehicle and trailer fleet during the year, and to mark its 50th anniversary the company commissioned a one-off truck and two trailers, painted and liveried in the original Elddis Transport colours of 1971.
The report also remarked that one of the company’s original drivers, Andy Mitchell, retired in September 2021, having worked for the business for the 50 years since its inception, which the directors noted “was not only an incredible achievement, but testament to the family values and ethos that continue to run through the fabric of the business.
“These principles will continue to be called upon as the business leads into 2022 and beyond safe in the knowledge that our people are our strength.”
A request for comment from Elddis Transport (Consett) on their latest annual results have yet to receive a response.