Nightfreight delivers confident results

The Willenhall, West Midlands-based company – owned by Penglais Investments – reported increased pre-tax profits of £2.0 million, £0.18 million up on the previous year. Nightfreight said that although it had been a difficult trading climate where existing customers shipped less volume and revenues fell by £15.5 million on 2008 figures to £121.8 million, margins improved slightly and were in line with company expectations in a challenging marketplace. Group finance director Ian Horsfall said: "During the period, we established a strong platform for growth which is part of our three-year programme of transformation. This will see further service development and continual operating efficiency improvements." The company – which employs 2,100 staff across 60 operating sites nationwide and 1250 vehicles – said it had added new customers to all areas of the business and heightened service levels. Its progress was underlined by the volume of repeat business on its books with major dedicated logistics contracts being renewed last year with Office Depot, Jungheinrich and Elastogran. New accounts wins with SWS UK, Universal Aluminium Systems and Wilkinson were gained with these customers taking advantage of Nightfreight's dedicated, shared user and network services. "Our investment in vehicle telematics across the fleet will sustain the 30% productivity improvements we've already achieved in network delivery operations and supports the further development of customer services," said Horsfall.. "We are satisfied with our latest financial results. Against a challenging economic climate, we remain focused on delivering quality service and providing greater value for customers and we look to the future with confidence."