Challenging conditions did not prevent Devon-based haulage and logistics group ET Holdings increasing turnover and profits last year, according to its most recent accounts.

For the year ending 31 March 2019, the group, which includes Evans Transport in Bideford and Larkfield, and Kent-based John Seymour Transport, posted a pre-tax profit of £1.2m – an increase of around 43% on the previous year.

Turnover also increased, by 5.2%, to £31.8m.

In its report of the trading period, the company said it was pleased with the results and added: “The overall UK economy and market for ET Holdings’ services remains challenging and the group continues to operate in a highly competitive market place.”

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On 20 August 2019, the group purchased Hicks Logistics in Caldicot, Monmouthshire, for £2.3m.

The haulier runs a mixed fleet of more than 90 lorries and offers general and heavy haulage services.

The report added: “The directors aim to maintain the management policies which have resulted in the company’s substantial growth in recent years. They consider that the next year will show a further growth in sales from continuing operations.”

The company did not respond to comment.