The latest financial results for Yorkshire-based cold storage and transport business The Reed Boardall Group Limited show that the company has continued to build on its solid foundations with revenues remaining close to the previous year at £64.3m in the year to 31 March 2016 (£65.9m in 2015).
Serving leading retailers and food manufacturers throughout the UK, the company whose Boroughbridge cold storage facility is one of the largest in Europe, put in another strong financial performance despite an increasingly competitive market. The slight fall in turnover compared to 2015 was attributable to a minor decrease in volumes due to the expected loss of a large customer part way through the financial period, however, Reed Boardall has very quickly made up the volume of stock in store. The transport division continued to face a tough climate with costs increasing during the year which were difficult to recover.
Due to increased efficiencies within the business, profit before taxation saw a slight rise from £3.2m in 2015 to £3.4m in 2016.
Marcus Boardall, deputy chief executive of The Reed Boardall Group, commented: After more than 20 years as partners to some of the leading players in the British food sector, we have a tried and tested formula for cost effectively and reliably providing the integrated cold storage and transport services they need.
With consumers shopping more frequently at outlets with restricted storage space, our customers are demanding smaller and swifter deliveries. This fits well with our business model of a 142,000 pallet storage facility operating on a single site, enabling us to respond quickly with ‘order today, delivery tomorrow’ as well as providing excellent value as we are able to combine products from various customers.
Sarah Roberts, finance director, said: With our solid track record providing these niche services, we are able to run an extremely efficient operation to the benefit of our customers in what is a very competitive sector.
Reed Boardall is one of the largest temperature controlled food distribution businesses in the UK, storing and delivering frozen food from manufacturers across Britain, Europe and further afield to all the UK’s best-known supermarkets. Operating 24/7, its 180-strong fleet of vehicles moves an average of 12,000 pallets a day and it stores around £100m worth of products on behalf of its customers. It employs over 750 staff at its single site in Boroughbridge, Yorkshire.