Pallet-Track said profits had soared by 44% last year, with EBITDA the highest in the group’s history.
The Wolverhampton-based pallet network said it had managed 4.1m pallets in 2024, a 4.7% increase, generating total revenues of £150.7m, up £12.3m on the previous year.
Adjusted EBITDA was £7.4m, an increase of £2.3m, or 44.1% year-on-year – a record for the network.
This was reflected in an overall gross profit margin of 56.1%, up 1.4% and a net profit margin of 12.3%, up 1.1%, year-on-year.
Operating profit increased by £1.8m to £3m, a 140% year-on-year growth.
Pallet-Track added that its success was down to the “tremendous partnership” with its members, who delivered “best in class service with improved efficiencies”.
Stuart Godman, CEO at Pallet-Track, said: “This is an incredible set of results and an extremely exciting time for our shareholder network.
“We are enormously proud to be delivering these levels of growth during particularly challenging times for the logistics industry.
“Pallet-Track used to be known as the best kept secret in the sector, however, we have demonstrated the power of our shareholder network, shown the strength of the brand and our vision and commitment of being an industry leader.”
