Monday, July 6, 2020

Revenue rise for Reed Boardall Group amid rising costs & competition

The Reed Boardall Group, the Yorkshire-based cold storage and distribution business, has posted a rise in turnover despite rising costs and fierce competition in the transport sector.

For the year ended 31 March 2019, the company reported turnover at £62.8 million – a 3.8% rise on the previous year.

As well as rising revenues, the company also saw profits remaining steady with underlying EBITDA at £3.38 million (2018: £3.44m).

The company said that its single site model based in Boroughbridge and the rising use of its ancillary blast freezing, picking and packing services helped to improve its financial performance compared with the previous year.

Chief Executive Marcus Boardall said: “While continued tough competition has made it difficult to recover increased costs, with more than 25 years’ experience behind us, we have established a sound formula for success.

“An integrated cold storage and transport service from a single site, together with our experienced team, mean that we are able to run a cost-effective operation while maintaining the high levels of service our customers expect.

“We are continuing to invest in our people, premises and fleet to ensure that we remain a reliable and responsive logistics partner, trusted by the leading names in the food sector.”

Sarah Roberts, group finance director, adds: “It is encouraging to see another year of improvement and we are confident that our next financial year will show further growth as we have seen high levels of demand over the last nine months.”

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