Palletways (UK) saw turnover increase to £163.7m in the year to 31 May 2015 (2014: £146m), according to its latest accounts published at Companies House.

The pallet network made a pre-tax profit of £11.5m (2014: £8m), which the directors’ statement described as “a creditable performance”.

It added in its statement that this "reflects continued investment to strengthen the business by supporting the network and its members and by investing to ensure that the business remains the market leading express palletised distribution network in the UK".

Palletways recently bought haulier-member John T Evans after it was placed into administration. It also revealed the details of a tie-up with Parcelforce.