Haulier RT Keedwell increased turnover last year by 6.1% to £25.4m, despite conflicts in Ukraine and the Middle East and the economic downturn in the UK continuing to impact trading.
The national transport provider said gross margins improved slightly in the year ending 31 October 2024 to £2.7m due to increased revenues, but it still recorded a pre-tax loss of £425,000.
However, this was a slight improvement on 2023’s £501,000 loss.
The company added that since the year end, trading had been affected by the increase in the national minimum wage and also the rise in National Insurance contributions.
“The board continues to monitor costs, with a particular focus on employee and fuel costs compared with the cost of utilising subcontractors,” the haulier said.
“The aim is to improve the gross profit margins. Control of these costs has been challenging this year due to increased wage demands from drivers and general overhead increases.
“The external commercial environment is expected to remain competitive and the cost of fuel remains significant,” it added.
“The board are focusing on areas where the business is more efficient, moving into more profitable sectors and are engaging with a number of significant local developments and remain confident that these will provide growth both in revenue and margin.”
