Witney, Oxfordshire distribution and warehousing firm Chris Hayter Transport saw a downturn in both its revenues and profits last year.
The company’s latest accounts for the year ending 31 December 2024 showed turnover fell by 3.8% to £29.2m (£30.4m).
Profit before tax reduced significantly, by 72.2% to £642,000 compared with £2.3m in 2023.
The company noted in a review of its business that the reduction was due to “investments made in the leasing of additional units to support the company for future growth”.
The haulier added: “The directors achieved their aim during the year of continuing to consolidate the trading position whilst taking steps to put in place the infrastructure for future growth.
“The directors are satisfied with the underlying financial strength and position of the company at the year end.”
Chris Hayter Transport, which has been a family-owned business since 1964, holds three O-licences, in the West of England; North West and London and the South East traffic areas, operating between five and 90 HGVs out of each depot.
“The directors have assessed the principal risks and uncertainties affecting the company and, as last year, consider the major risks to be increased regulations, the fluctuating DERV prices together with HGV driver shortages affecting the transport industry, as well as inflationary pressure increases in commodities and utilities, all of which are outside the directors’ control,” it added.
