Massey Wilcox Transport said it had maintained market share as its latest financial results revealed revenues and profits were virtually unchanged from the previous year.

Turnover at the haulage, distribution and warehousing firm was £14.1m for the year ending 31 May 2023, just £44,000 lower than in 2022.

Pre-tax profit was also stable, at £832,000, compared to £841,000 in the previous trading period.

In a review of the business the haulier said the directors were pleased to report consistency in revenue levels, which had been aided by an increase in its storage and handling income.

“The company continues to experience general increases in the direct running costs from fuel, insurance and wages that they have not been able to pass on to customers through increased rates,” the review said.

“The directors continue to carefully manage the level of operational and overhead costs, as well as continuing to market the company’s value added services.

“The directors are satisfied that they have continued to maintain their market share in this very competitive and congested market.

“The company continues to be well placed in the sector, which is aided in no uncertain terms by the respect held for its heritage, to take advantage of the future opportunities in its turnover and profitability,” it added.