Reed Boardall of Boroughbridge has recorded an increase in net profit to 1.9% of revenue in the year to March, compared with 1.1% the previous year.
The company operates from a 168,000 pallet 55ha capacity site. Last year it was expanded in a multi-million project to create the most extensive and modern cold storage facility in the UK. Its 200 vehicles deliver 12,000 pallets of frozen food daily.
It reports rising custom and profit across areas of its business, including ancillary services such as blast freezing, picking and packing.
RECOMMENDED READING:
Chief executive Michael Boardall said: “After a tough few years which saw the industry reeling from the impact of Covid and then spiralling costs, we are now seeing the business entering calmer waters. It’s gratifying to start to realise the benefits of our significant investment in increasing capacity and strengthening our single site model,” commented Marcus Boardall, chief executive of Reed Boardall.
“While it continues to be a dynamic market with some of the major players moving between logistics providers, we are finding that the strength of our reputation for delivering product on time, every time, is attracting new customers as well as helping us to retain or expand our existing contracts.
“Having served the country’s leading food retailers and manufacturers for over 30 years, it’s reassuring to see that customers are continuing to prioritise quality of service and seeking a reputable long-term cold storage and transport partner.”
Reed Boardall group finance director Sarah Roberts added: “These latest encouraging financial results are a further demonstration of the success of our single site strategy which enables us to serve customers efficiently. Over the last year, we’ve increased volumes, meaning that we expect to be operating full utilisation of our extensive cold storage facilities by the end of our current financial year in the spring.
“During 2024, we have been less affected by labour shortages, largely due to the success of our inhouse driver training academy which has resulted in 80 new HGV drivers qualifying since our scheme began. We are continuing to invest in developing our dedicated team which is at the heart of our ability to provide exceptional service.
“We pride ourselves on our innovation and look forward to further strengthening our customer relationships as we remain committed to being at the forefront of the industry.
“We are approaching the year ahead from a position of strength, confident that our can-do attitude and solid reputation will continue to reassure some of the best-loved names in the British food sector that they are in the capable hands of a long-established, reliable partner.”
