Welch’s Transport added £166,000 to its revenues in 2024, in what it said was “a difficult year” during which profits fell prompting a restructure of its sales and business development division.
Turnover increased by 1.1% to £15m in the year ending 31 December 2024, but pre-tax profit reduced by £156,000 to £192,000 and operating profit fell by 49% to £175,000.
The company said volumes had shown little growth, which resulted in storage, distribution and motor trade activities recording lower profits.
“A restructuring of the sales and business development function mid-year, along with the deployment of additional resources did yield positive results towards the end of the year, with several business wins from both new and existing customers, which will bring additional volumes during the year ending 31 December 2025,” it said in a business review.
“As at 31 December 2024, the company’s pipeline is strong.”
Welch’s Transport said customers had been “extremely price sensitive” during the period, but they had eventually accepted price increases, “particularly when accompanied by improved service offerings and management information”.
The haulier introduced its first electric 19-tonne lorry in 2023 and it followed this up last year with its first maximum weight artic, with a second one deployed in Q1 2025.
“As part of the company’s journey to net zero, six bay hyper chargers with 1Mw dedicated supplies were ordered for both Bedford and Duxford depots, which will future-proof both depots albeit at a seven-figure cost,” it added.
“This was as part of one of the department for transport’s zero emission projects, which means an element of grant funding was obtained.”
