John Hackling (Transport) saw its profits soar to £1.5m last year following a dip in 2021.

The Cheltenham-based warehouse, distribution, hazchem and Palletline haulier also increased revenues by 5.6% to £19.7m in the period ending 30 September 2022.

Almost all of the increase came from its storage and handling work, which saw turnover rise by 58.7% from £2.1m in 2021 to £3.3m last year.

Revenues from its haulage work fell by 1.1% to £16.4m.

Pre-tax profits increased by 240% from £430,000 in 2021.

The company, which has two operating centres in Bourton-on-the Water and the Groundwell industrial estate in Swindon, has an international licence authorising a total of 75 HGVs and 100 trailers.

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In a statement signed off by the board, John Hackling (Transport) said: “The directors consider the performance for the year and the financial position at the year end to be satisfactory.

“A dividend of £13,405,000 was paid to the company’s parent during the year.”

The immediate and ultimate parent company is John Hackling (Holdings).

The statement added: “The external commercial environment was expected to stay competitive during 2023, however the volatility of fuel prices had, and will continue for some time to have, a significant impact on results.

“Actions taken by the company put the company in a good position to continue to react and operate while monitoring the situation.”