Woodside Logistics Group defies "challenging" market to deliver pre-tax profit surge

Northern Ireland-based Woodside Logistics Group saw operating profit boosted by 20% to £2.8m last year, despite a “challenging environment”, its latest annual results have revealed.

The group - which includes Woodside Haulage, Woodside Distribution, Woodside Motorfreight, Woodside Ireland, Woodside Tankfreight, Woodside Warehousing and Woodside Global - is based in Ballynure, Co Antrim.

The family firm has three operating centres in Ballynure, Dublin Port and Preston, Lancashire, employs over 500 staff and is a member of Pallet Track.

In its latest annual results to 31 March 2019, the group saw turnover rise by 4.5% to £67.3m (2018: £64.4m), whilst pre-tax profit grew to £3.6m from £3m in the period.

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The bulk of the group’s turnover came from its UK operations, which delivered £64.8m in the period, with the rest of Europe providing £2.5m of turnover, up from £2m in the previous year.

In its strategic report the group said that the annual results “were considered satisfactory by the directors and to have been achieved in a challenging operating environment.”

Speaking to motortransport.co.uk MD Tim Woodside said that the results were “in line with expectations.”