Bartrum Group reports rise in revenues but impact of pandemic hard to judge

Bartrum Group increased revenues by 3% last year, but it warned that the pandemic’s effects on its business operations remained uncertain.

Group turnover increased to £31m for the year ending 31 December 2019, with pre-tax profit falling by 3.3% to £1.5m.

The Eye, Suffolk-based road services division saw turnover increase by 17.6% to £12.2m and pre-tax profit grew by 16.2% to £813,000.

Its haulage and storage arm fared slightly worse, with revenue falling by 3.6% to £18.8m and profits falling £161,000 to £710,000 during the period.

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It said the haulage industry was competitive and the need to control costs and increase efficiency continued.

But referring to events after the reporting period and the effect of Covid-19, it said: “The trade of the subsidiaries within the group is sensitive to consumer spending patterns and other external factors such as interest rate levels, economic and political uncertainty and the wider world economy.

“While it is presently difficult to accurately predict when and how the current pandemic will be resolved, the directors have been keeping the situation under constant review.

“The key areas of focus and concern have been to maintain operations at a level in order to meet demand, while having due regard for the safety and wellbeing of employees, customers, suppliers and other stakeholders.”

MD Robert Bartrum did not respond.

The post Bartrum Group reports rise in revenues but impact of pandemic hard to judge appeared first on Motor Transport.

Bartrum Group increased revenues by 3% last year, but it warned that the pandemic’s effects on its business operations remained uncertain. Group turnover increased to £31m for the year ending 31 December 2019, with pre-tax profit falling by 3.3% to £1.5m. The Eye, Suffolk-based road services division saw turnover increase by 17.6% to £12.2m and pre-tax profit grew by 16.2% to £813,000. Its haulage and storage arm fared slightly worse, with revenue falling by 3.6% to £18.8m and profits falling […]
The post Bartrum Group reports rise in revenues but impact of pandemic hard to judge appeared first on Motor Transport.Read More

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