Boroughbridge, Yorkshire, UK: Reed Boardall Group reports a year-on-year rise in turnover despite rising costs and fierce competition in the transport sector.
The company’s latest financial results for the year ending 31 March 2019, show that underlying turnover grew by almost 3.8%, rising to £62.8m from £61.6m the previous year.
The single site model, based in Boroughbridge, continues to prove popular with food manufacturers and retailers, Reed Boardall says. It increased volumes in its 142,000 pallet capacity coldstore. This, together with rising use of its ancillary blast freezing, picking and packing services, helped the company to improve its financial performance compared with the previous year.
As well as rising revenues, Reed Boardall also saw profits remaining steady with underlying EBITDA at £3.38m (2018: £3.44m).
Marcus Boardall, chief executive, Reed Boardall Group, said: “While continued tough competition has made it difficult to recover increased costs, with more than 25 years’ experience behind us, we have established a sound formula for success. An integrated cold storage and transport service from a single site, together with our experienced team, mean that we are able to run a cost-effective operation while maintaining the high levels of service our customers expect.
“We are continuing to invest in our people, premises and fleet to ensure that we remain a reliable and responsive logistics partner, trusted by the leading names in the food sector.”
Sarah Roberts, group finance director, said: “It is encouraging to see another year of improvement and we are confident that our next financial year will show further growth as we have seen high levels of demand over the last nine months. We remain the UK’s largest consolidator of frozen food and have some exciting plans for next year, with investment and innovation at the heart of our business strategy.”
Reed Boardall’s 70 vehicles move an average of 12,000 pallets a day, and the company stores around £100m worth of products on behalf of its customers. It employs over 750 staff at its single site in Boroughbridge, Yorkshire.
Pictured above are Marcus Boardall, chief executive Reed Boardall Group, and Sarah Roberts, group finance director
