ACS&T Logistics saw operating profit rise by a third to £1.1m last year despite the fact that sales fell slightly to £23m.
The company said the improvement was down to cost reduction and a reorganisation process to increase competitiveness, as well as the enhancement of its distribution offering at the Wolverhampton depot.
Managing director Malcolm Johnstone said: “I am really pleased with the company performance over the last year. Thanks to our reorganisation efforts, we have steered a steady path through very difficult trading conditions. We will look to build on this success over the coming months, by expanding our customer base and developing our services further. While the market remains very competitive, I believe ACS&T is on course to meet the challenges ahead and perform well in 2010.”
Improvements were also seen in balance sheet strength and cash flow compared to 2008, with both creditor and debtor days significantly reduced.
ACS&T Logistics is divided into three operating divisions: Temperature Controlled, Production Support and Complete Packing. Its services are provided from four centres: Grimsby (Headquarters), Wolverhampton, Tewkesbury and Scarborough. The business currently operates 12 cold stores, 3 ambient stores, extensive co-packing facilities and large, dedicated and shared-user multi-temp transport fleets.
