Nightfreight’s financial results (for year ended 30th November 2008) have revealed a £1.5 million rise in pre-tax, pre-interest profit on the previous year, (it rose from £800,000 in 2007 to £2.3 million in 2008), while sales have remained the same.
The Board expects the profit in the 2009 financial year to be sustained at the same levels as 2008 despite deterioration in the economic climate.
Chairman Robbie Burns said: “Throughout the 2008 financial year we have reduced our operating costs to match the reduced levels of volume in the network and continued to add new customers to all areas of the business. We have become more agile in managing costs and in our ability to support customers who are seeking change in times of difficult economic conditions. All this is reflected in our results.
“Nightfreight is continuing to make progress with a programme of restructuring, debt reduction and investment in the business. We are successfully repositioning ourselves as a solutions provider able to bring significant benefits to our customers through a broader range of both dedicated and shared-use network services.
“Solutions that combine Nightfreight’s dedicated contract distribution fleets with the company’s linked network, to provide additional peak capacity only when it is needed, are increasingly appealing in a difficult economic climate. The combination of both services results in a more flexible supply chain cost base.
“There is no doubt that our market position of helping customers convert their 52-week fixed transport costs into a greater level of variable charging, whilst improving services, has proven attractive in difficult economic conditions.”