East Anglian family firm The Bartrum Group drove up profit by more than a fifth in 2024, despite the pressures of a “very competitive” industry and rising costs, the company has revealed.
In its latest financial results to 31 December 2024, the group, which specialises in road haulage contracting, warehousing and commercial vehicle maintenance, reported turnover rising by almost a fifth to £38.3 m (2023: £32.5m) and pre-tax pre-tax profit jumping by 21% to £3.4m (2023: £2.8m).
These increases were achieved despite sales costs rocketing from £26.6m in the previous year to £31.1m in 2024, and wage costs rising from £9.7m to £11.7m in the same period.
In its review of its annual results for 2024 The Bartrum Group, which employs around 275 staff and has an operating licence for 66 trucks and 47 trailers, said the group had “managed to withstand the current economic conditions” and control costs and efficiency.
It added: “The directors are pleased with the results for the year and believe the group is well placed for the foreseeable future following significant investment in purpose built warehousing facilities, which became operational in the 2023 financial year.
“The haulage industry is very competitive and the need to control costs and increase efficiency continues. Due to the competitive nature of the industry the directors continually strive to improve efficiencies via diligent fleet management, investment and cost control.”
It concluded: “The key business risks and uncertainties affecting the group are considered to relate to competition from both national and independent operators and general economic conditions.
“General economic conditions are mitigated by ensuring we have a stable financial base with adequate reserves and that we continue to monitor and react to conditions on a regular and timely basis.”
Attempts by MT to reach Bartrums for comment on the results have yet to succeed.
