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Business outlook challenging says Yearsley

Heywood, UK:  Yearsley Group has boosted turnover and profit despite “another very challenging year”.

The company reported revenue of £143.6m in the year ending March 2012, up from £121.9m the previous year. Operating profit rose from £3.86m to £4.76m, with pre-tax profits up £2.25m to £3.22m.

The Yearsley Group is a privately owned company founded in 1955 and has two main divisions: frozen food sales and cold storage and distribution. It operates 13 UK sites 320,000 pallet capacity.

Earlier this month, it completed a deal to buy a 18,500sq metret warehouse in Birmingham from a failed logistics company and it is currently building 140,00sq metre coldstore  at its base in Heywood.

“The cold chain logistics division has again experienced extremely tough trading conditions, in line with customers looking to offset price increases for raw materials and other associated costs,” say the directors in the report  filed with the accounts.

“The food division has improved, mainly due to the successful relocation and integration of the Ice Pak Seafood Specialists business, however, market conditions are still difficult and the outlook going forward remains challenging.

“Whilst still not a significant part of the business, export continues to grow due to the weakness of sterling.”