Maxi Caledonian enjoys surge in profit

Logistics group Maxi Caledonian saw its profits almost double last year as it emerged from the pandemic and concluded historic projects.

Turnover increased by 8% to £80.6m for the year ending 30 September 2021 and pre-tax profit was £4.2m (£2.1m), without it having to contend with enforced Covid-related closures.

Within the group, Maxi Haulage reported revenue of £63.2m during the period, a 1.2% decrease from the previous year; however, pre-tax profit jumped to £2.2m (£928,000).

In a statement, the group said it had retained all major business and developed new business relationships during the financial period.

“The mitigation of Brexit issues and driver shortages by Maxi Haulage and less Covid-19 disruption to Maxi Construction’s activities have resulted in these improved financial results,” it said.

“We invested less in our fleet replacement and enlargement due to industry shortages but continued to purchase as stock became available.

“Thanks go to all our loyal staff, subcontractors and suppliers for their commitment during unprecedented working conditions and we sincerely thank all our customers and clients for their business and support.”

Maxi Caledonian added: “Our successful performance has continued into the next period.

“However, careful management of the continuing challenges presented by the Covid-19 pandemic, heavy increases in construction material costs coupled with shortages, huge fuel cost increases and possible major supply issues is required in order to minimise their effect on turnover and profitability.

“The group continues to trade with a very strong balance sheet with no borrowings and large financial reserves, allowing us to make all required investments from our own funds.”