Palletways doubles profits

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Operating profit doubled at Palletways to £10m last year, while turnover rose 14 per cent to £237m.

It said volumes had increased by nine per cent and it is now handling more than 33,000 pallets a day through its pan-European network of 400 depots spanning 20 countries.

Chief executive James Wilson said: “With continued growth in e-commerce and an improvement in economic sentiment, the market for express palletised freight across Europe continues to grow strongly and we have positioned Palletways to capture an increasing share of this growth.

“This is an exciting time for our network as we continue to expand and grow into new markets and we look forward to further progress in 2016.”

During the year Palletways opened a new facility near its Fradley headquarters, which has expanded its capacity by 8,000 pallets a day.

In central Germany, work has begun on a €10m hub which will triple delivery capacity in the region.

Other network developments include a new regional hub at Montpellier in France, and expansions to existing hubs in Milan, Italy and Zaragoza, Spain.

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