Great Bear Distribution increased profits by 7.5% last year to £9.5m and it anticipated its “controlled organic growth” will continue.

Turnover for the distribution and storage company in the year ending 31 December 2019 also increased, by 5.4% to £266m (£253m) and operating profit soared by 48% to £15.6m (£10.5m).

Looking ahead, the company said any risks associated with Brexit are not considered material to the business, but that the impact and spread of Covid-19 was being “continually monitored”.

It said: “The company has undertaken detailed planning and cash flow forecasting that has taken into account possible scenarios allowing the company to continue to operate as a going concern throughout the pandemic to date.”

Great Bear said it was funded via loans and cash-pooling, which is provided by intra-group companies: “The directors are satisfied that the company is able to operate as a going concern and to settle its liabilities as they fall due for a period of 12 months from the date of approval of these financial statements,” it added.

Culina Group bought Great Bear Distribution in March 2016 and it operates more than 400 HGVs and manages over 6m sq ft of warehousing in more than 30 UK locations.

Great Bear Distribution did not respond.