Fred Sherwood Group saw its revenue and profits slide last year, but the bulk haulage company said it was in a strong position to withstand trading challenges.
For the year ending 31 March 2025, the group reported revenues of £71.9m, down from £78.3m in 2024.
Pre-tax profit reduced by 28.8% to £3.8m, but the company said it was still considered a strong return overall.
Gross profit rose by 3.4% to £9.4m.
“Although there was a significant increase in fuel prices and a UK national shortage of HGV drivers, the group have mitigated this risk by passing costs onto customers, where possible, and by increasing the wages of drivers accordingly,” it said in a review of its business.
Fred Sherwood & Sons (Transport), a division of the group business, invested £5.3m in its fleet during the trading period.
It saw turnover reduce by 7.4% to £34.9m; however, its pre-tax profit increased by more than a quarter (26.2%) to £480,000.
The Shepshed, Leicestershire company can trace is roots back to the 1920s when Fred Sherwood bought his first Bedford van and it continues to be run by the Sherwood family today.
It holds licences in four traffic areas where it operates between seven and 105 HGVs.
