Profits on the rise at John G Russell

A focus on asset utilisation saw John G Russell (Transport) increase profits by 5% last year.

The Glasgow haulage and warehousing firm said revenues had also risen slightly to £68.8m in the year ending 31 March, compared to £68.7m in 2020.

Pre-tax profit for the period was £7.8m (£7.4m). Operating profit increased by 4.2% to £8.3m.

In its latest financial report the company, which operates HGVs out of six depots across Scotland, as well as at the Daventry rail freight terminal, said: “Our principal business strategy remains the achievement of a consistently high quality, robust, sustainable and cost-effective logistics service to UK industry and the development of mutually beneficial, long term business partnerships.

“A focus on new business development supported by a philosophy of innovation, as a means of achieving long term prosperity, is an essential part of this strategy.”

Earlier this month, the company said it had signed a memorandum of understanding with hydrogen-powered fuel cell EV supplier Hyzon Motors to begin deploying cleaner vehicles in the UK.

The company did not respond as we went to press.