Wm Armstrong increased turnover and profit last year as its general haulage and palletised goods activities returned to normal levels amid a post-pandemic environment.

Revenues at the Cumbrian company increased by 16.2% to £40.9m for the year ending 31 March 2023.

Pre-tax profit almost doubled to £1.4m during the period.

The haulier, which undertakes a range of haulage and distribution work, including livestock haulage and milk transport, said it opened a new depot in Preston to support its operations:

“The new depot allows the company to service its customers in the most cost effective way possible and will support further growth in the company’s activities and secure new customers,” it said.

Wm Armstrong added that a greater proportion of its haulage revenue was now covered by fuel escalators and pointed out that the price per litre was 33% higher than the previous trading period, which resulted in increased costs and revenue.

It placed a focus on training and development and said that trainee drivers achieved their licences to become qualified HGV drivers during the period.

The haulier’s subsidiaries, Cumbria Truck Centre and Armstrong Trucks both turned in strong performances and it said sales of Isuzu trucks and Maxus vans were at increased levels during the year as availability improved.

“In the current year demand for vehicles is good, however our ability to fulfil orders on the time has been impacted due to a reduced supply from manufacturers,” it said.

“This is in line with the motor trade as a whole.”

Wm Armstrong also pointed out that the entire industry continued to be affected by a shortage of skilled vehicle technicians:

“The business uses the apprenticeship scheme to support the training and recruitment in this area.”

Topics