Palletline will roll out one of the most ambitious investment programmes in its history next year when it spends £6m on properties, new technologies and also its network.

It said it had enjoyed “unprecedented success” over the last year, including a 19.4% increase in revenues and it now wanted to ensure its future sustainability in order to handle the economic headwinds predicted by analysts.

Palletline said it would expand the Coventry and Birmingham sites as well as begin a five-year contract with Linde, which will see a new fleet of forklifts being introduced across the business, some of which will be electric.

Palletline also intends to develop a new IT platform and deliver a seven-figure project implementing CCTV technology on its forklifts, to increase visibility and accountability.

Graham Leitch, Palletline group MD, said: “Palletline was the first network to be established in the UK and we are incredibly proud that we continue to boast a market leading model which has stood us in good stead over the past 30 years.

“Palletline continues to be the only network owned and controlled by its members and, as such, is seen as the network of choice for regional logistics companies who want to enjoy this and other benefits.

“We have an exciting journey ahead and will ensure we continue to exercise strong financial controls for the benefit of our members going forward.”