Lloyd Fraser

Lloyd Fraser said it was in a strong financial position with healthy cash reserves after reporting a 3.4% increase in turnover last year.

The logistics group, which specialises in fashion transport, bulk liquids and FMCGs, also increased its pre-tax profit by 3.6% to almost £1.3m in the year ending 31 August 2013.

Turnover rose to £47.3m during the period, with around £640,000 of this derived from business in Europe.

The company said its future strategy will be to focus on its current business sectors and develop added value services in order to maintain its position in the market.

“We are pleased that the company have been able to demonstrate growth in both turnover and profit – particularly as trading terms generally remain very competitive and flat,” said a spokesman.

“New contracts from new customers and our own improved efficiencies have contributed to our performance. We are optimistic that the trend will continue in the immediate future”

Lloyd Fraser runs a fleet of more than 500 vehicles and employs 550 staff.