Maritime Transport said its acquisition by global logistics firm Medlog had helped generate additional revenue in its road, rail and terminal divisions, resulting in a 15.8% increase to £489m.
The company said it was pleased with the results for the year ending 31 December 2025, which came amid challenges in the Red Sea and consolidation of global shipping lines.
“Despite these challenges, through a variety of wins across all divisions of the business and the aforementioned transfers from Medlog and Medway Rail, turnover increased,” Maritime said in its results.
Swiss logistics giant Medlog bought Maritime in 2024 in a move its chairman said at the time expanded its footprint in the UK.
In its latest financial accounts, Maritime said that following the acquisition “the company continues to operate independently with all the existing senior management team remaining in place.
“Through developing relationships with existing and new customers, along with the integration from Medlog and Medway Rail, our road, rail and terminal businesses generated additional revenue against a backdrop of economic uncertainty.”
Pre-tax profit reduced to £2.4m from £7.1m in 2024, but Maritime said this was mainly due to its decision to early adopt new accounting standards, which reclassified and increased interest costs.
“Gross profit for the year was £113.3m, which at 23.2% is below the 23.7% generated in 2024,” it added.
“Several factors contributed to this, including the mix of work and resource utilised, a reduction in the amount of MSRS government grant claimable and continuing inflationary pressures, not all of which are fully recoverable.”
The haulier said it had invested £84m in its operational infrastructure during the year, including fleet renewals using fuel efficient trucks, expansion of its trailer fleet and development of its property infrastructure, including the Mossend rail terminal.
“A shortage of drivers represents a risk to all operators in our sector,” it said.
“The directors have managed this risk by providing several pay increases in recent years and by ensuring a high standard of facilities and support for our valued drivers.
“This approach has resulted in the company reporting the lowest driver churn statistics for a decade.”
Maritime Transport is a participant in the ZEHID programme, with the first of 56 zero emission HGVs arriving at the beginning of the year.
