Spalding, UK: FreshLinc faced a challenging financial year after losing a retail contract which was absorbed into the client’s own distribution operations. This loss was a major factor in the company’s reported 4% turnover decline to £139.7m and a 23.2% fall in pre-tax profits to £1.3m for the year ending 3 February 2024.
FreshLinc cited the challenging post-Covid market environment and the costs associated with launching new facilities as impacting its financial returns. In response, it plans to diversify beyond its core areas and reduce reliance on any single revenue stream. This includes the development of specialist haulage operations and the expansion of its warehouses.
It has opened a 140,000 square foot warehouse in Peterborough, a new distribution operation in Nottinghamshire and acquired additional chilled distribution space in Spalding.
