The Pallet Network (TPN) said it had built on its foundations of being the country’s largest network after revenues increased to £191m.
Turnover in the year ending 31 December 2025 rose by 4.1% from £183.4m in the previous year.
The Culina group member company also returned to the black after posting a £362,000 pre-tax loss; profit was £2.7m in 2025 and operating profit increased to almost £5m compared to £2.1m the year before.
“During the year the company has continued to build on its solid foundation as the UK’s largest partnership cohort in the pallet sector,” TPN said in its strategic report.
“The challenging market conditions continue to impact the company, however the directors are satisfied that the company continues to provide its customers with a market leading service.
“The company is well funded and financially robust, so the directors are confident the business is well placed to meet the challenges of the ongoing economic and market conditions.”
TPN’s results for 2025 preceded significant restructuring at its parent Culina Group, with it recently announcing it was retiring established subsidiary brands including Eddie Stobart, Great Bear and Fowler Welch and bringing its operations under a single identity and organising them into five divisions.
Last week it also announced Fabian Koehler would become chief executive of Culina Group in February 2027, succeeding Liam McElroy, who will move into a non-executive director role.
