Palletline has reported a 10% increase in network volumes during the first quarter of 2026, after posting higher profits and cash generation for the year ending 31 December 2025.
The pallet network said group operating profit rose by 58% to £3.5m in 2025, with net cash generated from operating activities reaching £8.4m and network volumes increasing by approximately 2.5% during the year.
The business said the results marked the success of the first phase of a five-year growth strategy introduced after a major restructuring in 2024, with investment continuing across both its network and logistics operations, despite ongoing economic and geopolitical pressures.
Palletline has also strengthened its senior leadership team ahead of the next stage of the strategy. Carl Moore joined as chief executive in March 2026 and will formally take over the role on 1 July, while Carl White has been appointed network director.
Palletline chief executive Graham Leitch, who will step down at the end of June to become board chairman, said: “Palletline has always been a business built on strong partnerships, shared values and long-term strategic thinking.
“The progress achieved over the last year reflects the commitment of our members, colleagues and leadership team across the network.
“I look forward to continuing to support the executive directors, Carl, Bali and Glenn as the business enters its next phase of growth.
“While we remain mindful of wider geopolitical and economic pressures, Palletline is very much flying the flag for the industry and in a strong position - continuing to lead from the front in our sector.”
Bali Bandha, chief financial officer, said the company’s financial performance had put it ahead of forecast and delivered a net cash positive position a year earlier than planned.
“These results reflect the disciplined approach we have taken to strengthening the business financially while continuing to invest for the future,” he said.
“We have a robust balance sheet, strong cash generation and are pleased to be ahead of forecast, reporting a net cash positive position in 2025 — a full year ahead of plan.
“This gives us the confidence and capability to continue delivering against our ambitious five-year strategy.”
Glenn Baker, group chief operating officer, said the network had maintained strong performance levels throughout 2025 and into the first quarter of 2026.
“The resilience and performance of our network throughout 2025 has been extremely encouraging,” he said.
“Building on that momentum, Q1 2026 network volumes increased by 10%, and we remain on track for further growth across the year.
“The strength of the Palletline model, combined with the commitment of our members and teams, continues to set us apart in the market.”
Incoming CEO Carl Moore added: “I have thoroughly enjoyed my first months with the business and have been incredibly impressed by the strength of the network, the quality of the people and the ambition across the Group.
“Palletline has a clear strategy, a strong culture and a solid foundation for future growth. I’m excited to work alongside our members and colleagues to deliver the next stage of our five-year plan and continue driving the business forward.”
Alongside its commercial plans, the company said it continued to progress its ESG strategy, including investment aimed at reducing environmental impact and supporting long-term net zero objectives.
