With the Brexit comedy unfolding, the PM change and finally an election, the Logistics sector held it’s breath in 2019. Few companies invested, opting if anything to batten down the hatches and be ready to tighten their respective belts should the economy dip.
Indeed growth was as minimal and the bricks and mortar retail sector was battered with many big names going to the wall. (JD Sports and Greggs excepted).
2019 was a challenging year in particular for: –
Fedex UK profits dipped 27%
TNT’s dipped 7%
Cult favourite Eddie Stobart was saved by DBAY
K&N had a HMRC investigation into its corporation tax savings
Sherwood & Sons say profits dip 75%
Devereux Developments went into the red.
James Shaw and Son, Green & Skinner Haulage, Stanian Transport, Alton Transport Pro Freight Solutions and Eulos EU all sadly called in the administrators.
Hilary Devey’s subsidiaries Shears Brothers, Intercounty Distribution and Pall-Ex London all incurred mounting losses.
Royal Mail, Unipart Logistics, Dartford DHL, UPS – Argos Contract and Serco narrowly avoided strike action.
It was not all bad news and the below companies show there are still grounds for optimism in the right sectors: –
Woodside Haulage seen profit rise by 20%
ET Holding 43% up year on year.
Erith Haulage seen profits rise seven-fold
United Pallet Network had an increase of profit by 5.6%
Reed Boardall seen a 13% increase in profits
NC Cammack had a record year – in its centenary.
NWF (Boughey Distribution) have seen volumes increase by 30%
CM Downtown had a number of large contract wins.
DPD seen a 13% increase in Black Friday related volumes and were voted best parcel carrier for the 7th year running.
Acquisitions – Gregory Distribution bought ARR Craib, Breedon has bought assets from Cemex.