Stan Robinson Group is reporting “another successful year”, despite revealing a near 40% drop in pre-tax profits in its latest annual results.

The family-owned Staffordshire haulier specialises in nationwide haulage distribution as well as storage and holds operator licences for a total of 230 HGVs. It employs around 285 staff.

Its recently published annual results for the year to 31 May 2022 show a rise in revenue to £26.6m (2020: £25.9M) with pre-tax profit down by 39% to £1.4m (2020: £2.3m).

The company remained upbeat in its strategic report to the results, noting “another successful year for Stan Robinson Group. Despite the challenges in recent years brought about by the global pandemic, the financial performance for the year ended 31 May 2022 was still good.”

The report said that whilst turnover stood at £26.6m, compared to £25.9m last year, this was not a real increase as turnover includes the diesel surcharge.

“The surcharge is included in the diesel costs which rose from £4.3m in 2021 to £5.1m this year. In real terms group turnover fell by just £300,000,” the report explained.

It added that throughout the year the group has remained financially strong with very good levels of cashflow providing self-funding without the need for bank financing.

Read more

The report also praised the service performance of the haulage operation which it described as “excellent” and praised management and staff for their hard work.

It said that the group invested almost £980,000 in its fleet over the year with a further £990,150 committed at the year end.

Stan Robinson Group also continued to manage its trading cashflow “exceptionally well”, the report added, noting that it needs neither bank overdrafts or bank financing with cash generated from operations standing at almost £2.8m.

It hailed the financial position of the group at the end of the year as “extremely healthy” which it said has adequate cash resources for continuing the business operations and a group balance sheet showing net current assets of £4.2m and shareholders' funds of almost £17m.

Turning to its future prospects the report said that the directors are “delighted” with the group’s current position and remain “confident that the group is well placed to continue to maintain similar levels of profitability in the coming years.”