Boroughbridge, UK: Reed Boardall reports profits before tax up at £1.4m for the year ending 31 March 2023. In the previous year it reported a £4.1m loss.
Marcus Boardall, chief executive, Reed Boardall, highlighted inflationary pressure on costs but said labour shortages had eased over the past year. This was largely due to “initiatives we have undertaken to ease the industry’s recruitment issues, including our ongoing investment in training and improving working practices. By the end of the financial year, we had succeeded in training over 50 new recruits via our in-house driver academy, enabling them to become qualified HGV drivers, as well as having set up a number of administration and technician apprenticeships,” Marcus Boardall said in a statement.
“The year ahead looks positive as we continue to prove the success of our single site strategy which enables us to provide an efficient and reliable service to our customer.”
Sarah Roberts, group finance director, Reed Boardall, said: “It is great news that despite market turmoil, the business is back on track with both turnover and profits increasing. Some of the positive trends we saw included higher average store utilisation than the previous year, and the recent extension to our 168,000 pallet cold store running at very high capacity.”
