Archbold Logistics reports rise in profits and turnover

Distribution specialist Archbold Logistics said it had largely mitigated the effects of Covid-19, due to the varying nature of the products it transports for its customers.

In the financial results for the year ending 31 December 2019, the haulier said it had experienced a temporary downturn in turnover in the first half of 2020, following the outbreak of Covid-19.

However, this had since been addressed thanks to having customers in a range of sectors, including automotive, retail, foodstuffs and paper.

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It said: “To further mitigate the impact on results and cash flow, appropriate measures were taken to reduce operating costs, and other cash flow improvements were made to ensure the company had more than sufficient cash flow resources to weather any cash flow issues in the short term.”

Turnover increased by 6.8% during the period to £17.3m and pre-tax profit increased to £127,665 from £44,515 the year before.

It added that the company had been impacted by “a significant customer” entering into administration during the middle of 2019.

The post Archbold Logistics reports rise in profits and turnover appeared first on Motor Transport.

Distribution specialist Archbold Logistics said it had largely mitigated the effects of Covid-19, due to the varying nature of the products it transports for its customers. In the financial results for the year ending 31 December 2019, the haulier said it had experienced a temporary downturn in turnover in the first half of 2020, following the outbreak of Covid-19. However, this had since been addressed thanks to having customers in a range of sectors, including automotive, retail, foodstuffs and paper. […]
The post Archbold Logistics reports rise in profits and turnover appeared first on Motor Transport.Read More

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