Family-owned firm Turners (Soham) defied a slow economy to deliver a rise in both turnover and profit in 2024, aided by its acquisition of Felixstowe trucking firm Logistics Planning Services, the group’s latest financial results reveal.
In its recently published results for the year to 28 December 2024, the company, which has its headquarters in Newmarket, reported turnover rising to £592m (2023: £556.3m) and pre-tax profit increasing to £71.5m (2023: £70m).
The group, which was founded in 1930, employs almost 5,000 staff and operates a fleet of over 2,700 trucks.
It specialises in temperature controlled distribution and storage; tanker operations for the food, buildings products and fuel industries; container distribution; and storage and general haulage operations.
The bulk of the group’s turnover in 2024 came from its container and storage division, which saw revenue rise to £206m (2023: £192m), followed by the temperature controlled division, where turnover rose to £179m (2023: £170m).
Turners’ tanker division also saw revenue rise during the year to £92m (2023: £87m), as did the group’s general haulage operations division, where sales rose to £115m (2023: £107m)
In its review of the business, the group said: “Throughout 2024 volumes remained at a fairly low level after decreasing throughout 2023. The economy in general is slow and the container division in particular continued to be significantly impacted by market conditions.
During 2024 the group acquired 100% of Logistic Planning Services, which helped lessen the impact of the reduced trading on the final 2024 results.”
The review added: “The board considers these results to be satisfactory in the current economic environment.”
The review also reveals that the group also bought a further 15% of shares in North Lincolnshire bulk powder transport specialist Dowse Haulage in 2024, which gave it full control of the company.
Turning to developments in 2025, the review noted: “The current year has seen volumes remain fairly static across most sectors. On 31st March 2025 the group acquired the remaining 50% of DRS Logistics Limited, which operates in the container market.
“As with most UK businesses, the group has experienced significant cost pressure due to the changes in employers’ national insurance rates and thresholds in April 2025.
It added: “The group’s success has been through developing strong relationships with its customers, suppliers and fleet operators. Regular contact is maintained to ensure that these business relationships are developed.”
