Bulk powder transport and storage specialist Simon Gibson Transport went deeper into the red last year after it reported a pre-tax loss of £1.4m.
The East Yorkshire firm said it had been “a difficult year of trading” but it remained confident that the strategic business model in place would return it to profitability.
The company’s pre-tax loss in the year ending 31 December 2024 was significantly more than the £124,000 it reported in the previous year.
Turnover during 2024 was £12.4m, a 15.8% reduction to the £14.7m revenues it reported in 2023.
In a business review, the haulier, which holds operator licences in almost all the traffic areas, said: “The pressure on pricing and the economic climate has resulted in a difficult year of trading for the company.
“As a result of this, continued streamlining and cost saving exercises have been implemented which will serve profitability well in the future.
“After previously investing heavily in a high-profile fleet, less investment has been required in recent years and the fleet is being utilised to its full potential in order to maximise efficiencies and synergies.
“The company continues to achieve the highest of standards and impeccable service.”
The company did not respond.
