Multi-temperature warehousing and distribution firm Americold Whitchurch saw reductions in its revenues and profits last year – but it praised the strength of the sector in which it operates.
Turnover at the company, which trades in the UK and in continental Europe, reduced by 8.4% to £43.1m in the year ending 31 December 2024, compared to £47.1m in 2023.
Profit before tax fell to £2.2m from £4.1m the year before.
However, the directors said they were satisfied with the balance sheet position at year end: “When considered against the global situation as a result of geopolitical uncertainties, including increased tariffs and the Ukraine war, the decrease reflects the resilience and strength of the industry in which the company operates,” it said in a review of its business.
“Gross profit margin for 2024 improved from 35.89% in 2023 to 36.08%.”
Americold Whitchurch added: “The board would like to place on record their thanks to all employees in the business that enabled the delivery of this result in such a challenging environment.”
The company said it considered warehouse utilisation to be an important tool in communicating financial performance and at the year end total utilisation was 83%, compared to 89% in 2023.
