Tradeteam on road to recovery after 2021 turnover slumps

Tradeteam saw some recovery in its finances last year as it emerged from the pandemic and returned to the black with a £129m pre-tax profit.

However, turnover was down 53% to £43.7m in the year ending 31 December 2021 and the DHL drinks distribution company said volumes remained significantly impacted as social distancing meant that venue capacities were reduced.

“The company continued to participate in the ongoing coronavirus job retention schemes, to support those staff unable to work due to continuing reduced activity, and mitigate the impact on the company,” it said.

Last year also saw the business move its operating activities to fellow group subsidiary DHL Supply Chain.

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The assets and the majority of the leases relating to its operations also transferred over in the second half of the year and the company said all future operational reporting will form part of the results of DHL Supply Chain.

A DHL spokeswoman told motortransport.co.uk that it did not comment on its financial performance at a country level.

However, she added: “Regarding the transfer of assets and operating activities of Tradeteam to DHL Supply Chain, this simply relates to the closure of the legal entity; the Tradeteam brand and operations will continue to be provided to our customers in the sector."