Felixstowe-based container transport and storage firm James Kemball saw turnover and pre-tax profit take a tumble in 2024, thanks to falling demand for container storage and rising fuel and staff costs, according to its latest financial results.
The company, which is part of the Uniserve group, saw turnover fall 6% to £43.2m (2023: £46m) and pre-tax profit tumble by 18% to £3.2m (2023: £3.9m), its latest annual results for the year to 31 December 2024 reveal.
James Kemball specialises in container transport and warehousing. It runs a fleet of over 500 vehicles, operates 650,000sq ft of ambient storage and 100,000 of cold storage, and employs around 130 staff.
The company mainly services Uniserve customers, as well as a number of strategic 3PL customers and provides container storage for shipping lines, freight forwarding and retail clients, at the group-owned Felixstowe Mega Distribution Centre (FMDC) and four other sites around the UK. Its transport services are delivered via group-owned and subcontractor trucks.
In its review of the business the company said the fall in turnover was driven by an “expected fall in demand for container storage” and added: “Global inflationary pressures have led to a sharp increase in direct and operational costs, particularly in relation to fuel and vehicles as well as employment and staff.
“Coupled with a change in sales mix, this has led to a fall in gross profit margin of 2.1% and a subsequent reduction in operating profits.”
On the upside the company pointed to the net assets of the company which were £52m (2023: £50m) at the balance sheet date. The review said this reflected “the solid position of the company from a solvency and liquidity point of view, and is the foundation on which the company can continue to grow and prosper”.
The review added: “We are a standout British business, with a reputation of excellence, investment and delivering on our promise and when a job needs doing properly, our customers can rely on us.
“Whilst wars in Ukraine and the Middle East, escalating costs and economic downturn have affected most businesses across the world we have been able to continue trading successfully, as the company is viewed as a safe and capable pair of hands.”
Looking to the future the company said its strategy is to “continue to deliver an efficient and valued added service for its customers whilst seeking to open new revenue streams. The company is also actively seeking to reduce fuel usage and emissions through the use of more efficient vehicles”.
A request by MT for comment on the company’s latest annual results has yet to receive a response from James Kemball Transport.
