Cold storage returns Reed Boardall to profit

York, UK: Reed Boardall Transport returned to profit after several years of losses, posting a pre-tax profit of £768,001 (US$1,252m) for the year ending 31 March 2010, compared to a pre-tax loss of £652,262 (US$1,063) in 2009.

Turnover for the period dropped slightly to £30.2m (US$49.258m) from £30.3m (US$49.429m)

Reed Boardall Cold Storage boosted turnover 51.5% to £35.3m (US$57.57) for the 12 months to 31 March 2010, up from £23.3m (US$38m)in 2009, with pre-tax profit rising 46% to £5.7m (US$9,23m) from £3.9m (US$6.36) the previous year. Growth came from the first full year of the extension to its cold store in Boroughbridge, which has capacity for 112,000 pallets at -25°C.

“We believe it is the largest facility of its kind in the UK and it has been more than 80% full throughout the year. The increased volume and the efficiencies of a larger store have led to the improvement in the division’s profit,” Boardall says is a statement.

Full results for the Reed Boardall Group, which include turnover from Reed Boardall’s vehicle servicing and parts business, ended the year with a £50.9m (2009: £49.1m) turnover and pre-tax profit up substantially at £6m (2009: £2.8m).

“The directors are optimistic about the prospects for the group, although it seems likely that pressure on prices will continue for some time, making cost efficiency the only means of maintaining profit,” says Boardall.

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