Pre-tax profit rose 27 per cent at Potter Group Logistics last year to £1.04m, while sales were up 2. 8 per cent to £15.2m.
In May, Potter acquired York-based House of James. as well as increasing turnover, this deal has given the group another distribution centre in Yorkshire and access to the Palletline pallet network.
There have also been some notable contract wins. In September last year Potter won a five year contract with chemicals group Johnson Matthey, and it was also awarded a two-year extension to its contract with Elanco, the animal health division of Eli Lilly.
Managing director Matthew Lamb said: “Both these prestigious contracts are for the storage and transport of regulated products, demonstrating that our consistent commitment to excellence in this industry sector continues to be the right fit for our customers.”
While the group has driven up margins, it has maintained a strong balance sheet with net assets of £32.2m. “Not only have we employed stringent financial controls to achieve these margins, but also our sales team has worked hard to increase business with both existing customers and new contract wins,” said Lamb.
The next step in the group’s strategy is the development of a new corporate identity which will be revealed in the next few months.
