Gregory Trading Holdings, which includes transport firms ARR Craib, Pollock (Scotrans) and Gregory Distribution, overcame a raft of market challenges last year to record increases in turnover and profits.
The group said it entered 2024 following tough trading conditions in the summer of 2023 and so it took proactive measures to reduce the number of lorries it was running, scaled back the apprentices it intended to recruit and reduced indirect overhead costs to protect profitability.
And despite inflation soaring to 6.7% at the start of the year, the group – which specialises in milk transport, pallet work, shared user transport and warehousing and dedicated contracts – reported revenues of £354m for the year ending 28 September 2024, a 3.5% increase on the previous year.
Pre-tax profit increased by almost 13% to £9m.
“Despite the challenges described, a number of our business areas and dedicated contracts have performed very well as we supported the growth and strategic plans of our customers with continuous improvement, sustainability and technology initiatives,” the group said.
“Overall, the business remains strong and in a good position to overcome the current market challenges as well as realising the opportunities which will inevitably arise with both existing and potential new customers.”
Within the group, ARR Craib Transport returned to profitability during the period, reporting a £849,000 pre-tax profit after a £445,000 pre-tax loss in 2023. Turnover was £47m.
Pollock (Scotrans) saw revenues increase by 12% to £27.9m and pre-tax profit increase to £1.4m
Gregory Distribution’s turnover during the period was £291m while its profits reduced to £6.1m.
The group added: “Although we anticipate the market will remain relatively flat year on year, it is likely that the distribution sector will continue to consolidate.
“This will present us with opportunities, particularly as existing and potential new customers seek to optimise their logistics solutions.
“Although general inflation has eased and is unlikely to reach the levels of the prior year, cost pressures remain including the increase in employers’ national insurance from April 2025, which will inevitably have an impact.”
The group is committed to decarbonisation and it said by the end of the year, fleet electrification will have been enhanced by the deployment of an additional 13 4x2 tractor unit BEVs through its participation in ZENFreight, part of the zero emission HGV and infrastructure development programme.
HVO also continues to play a part in its fleet decarbonisation.
