Suffolk-based transport company Turners ‘well placed’ for further growth
- Credit: Photo: © Keith Mindham
Suffolk-based logistics company Turners (Soham) Ltd has reported increased annual revenues and profit, and says it is “well placed” for further success despite competitive market conditions.
In an annual return filed with Companies House, Turners says that its turnover increased to £247m in the year to January 2, 2016, up from £238m the previous year.
And pre-tax profits at the company – which has its headquarters in Newmarket and operates from more than 30 sites around Great Britain – increased from £22.5m to £24.8m.
Revenues within the firm’s temperature controlled division, which is involved the distribution and storage of food products, was unchanged compared with the previous year at £109m.
Within the tanker division, which operates in the food, building products and fuel sectors, turnover dipped from £79m to £76m, but this was more than offset by an increase in general haulage operations, including container haulage and fruit and vegetable distribution, where revenues grew from £50m to £62.
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“The haulage industry has continued to be competitive during the last year,” says the company in its annual report. “However, the general economic climate has improved and offers limited opportunity for organic growth.”
Although is says that the “need to control costs and increase efficiency continues,” it adds: “In the marginally improving climate we believe the group is well placed to meet its challenges and to continue its successful development into the future.”
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During the year to January 2, Turners’ workforce increased from 2,272 to 2,459 and the number of trucks operated from 1,153 to 1,203.
Since the year-end, Turners has acquired Felixstowe-based container transport company MacIntyre Transport and Goldstar Transport, the UK’s second-largest container haulage operator, which also has its headquarters in Felixstowe.
Announcing the Goldstar deal last month, Turners said the acquisition would boost annual revenues by around £95m to more than £400m and add around around 700 trucks to its operation.
Turners is also investing in its own fleet and has recently taken delivery of its 600th DAF FTP tractor unit, supplied by regional DAF truck dealer Chassis Cab which has sites in Ipswich, Bury St Edmunds and Cambridge.