Norish sees pre-tax profit rise and says outlook “strong”

London, UK: Multi-temperature warehousing and logistics business Norish boosted pre-tax profit by 17.6% to £1.94m in the 2018 financial year (2017: £1.65m).

However, group revenue fell by 12.4% to £36.8m (2017: £42.0m). The company said that sales in its cold stores were down 4%, from £14.3m to £13.7m in 2018, due mainly to a reduction in blast freezing activity.

The temperature-controlled division performed ahead of the same period last year. The number of pallets into stores fell by 9%, blast freezing volumes decreased by 18% and average occupancy increased from 92% to 94%.

The directors said: “We anticipate another year of strong profit growth for the group in 2019. In our cold store division, the year has got off to a strong start in the first two months of the year. Management continues to focus on maximising both sales mix and pricing, in a market that is currently more favorable to cold storage businesses, than it has been at any time in the most recent past.

“The UK frozen food sector is currently the fastest growing retail category, growing at 4% per annum. A combination of factors is driving this growth including growth in online shopping, premiumisation of the category as well as providing a solution to food waste. This growth comes against a background of a cold store market which has seen a lack of significant investment over an extended number of years.”

WORLD NEWS

Michael Fischer takes Future Leader Award

Arlington, Virginia, USA: Michael Fischer, general manager, RLS Logistics has received the World Food Logistics Organization’s Don Schlimme Future Leader Award. Fischer was presented with …

READ THE FULL STORY >

Chereau cuts chassis weight

Avranches, Normandy, France, Chereau has cut the chassis weight on its trailers byusing new materials. The move is part if the second phase of its …

READ THE FULL STORY >

New staff at IARW and WFLO

Arlington, Virginia, USA: The International Association of Refrigerated Warehouses its research foundation, the World Food Logistics Organization have new board members. Andrew Janson, president, MTC …

READ THE FULL STORY >

Mercadona goes electric for home deliveries

Valencia, Spain: Mercadona is using a Thermo King powered electric van for home deliveries. Eneko Fernandez, product management leader, Thermo King, said: :”We decided to …

READ THE FULL STORY >

WHAT’S ON

  • The CV Show
    Birmingham, UK: The CV Show opens at the end of the month (30 April – 2 May) at Birmingham’s, National Exhibition Centre, United Kingdom.

Latest Tweets

Dearman adds two Krone trailers: bit.ly/2UnsSHL #Trailers #logistics

© 2019 Global Cold Chain News | Terms of use | Privacy Policy
Commercial Transport Publishing Limited, registered in England and Wales, Company No: 6453302. Registered Office: 6 Corunna Court, Corunna Road, Warwick CV34 5HQ