Turnover passed the £30m mark at Hull logistics firm Neill & Brown last year, in what was a strong year for the haulage business.
The company, which is headquartered in Hessle, hit sales of £30.3m in the year ending April 30 – up from £27.6m.
Pre-tax profits at Neill & Brown Global Logistics also increased, from £2.1m to £2.6m, as the business recorded impressive figures ahead of a potentially uncertain post-Brexit period.
In September, company CEO Peter Brown said he feared “major job losses” in the Ƶ’s logistics sector in the event of a no-deal Brexit.
But Neill & Brown’s latest trading figures has put the Hull business in a strong position for what lies ahead.
Directors said in recently-filed accounts: “Demand for the group’s services during the year has remained strong.
“The group has made a strong start to the next financial year…the net assets of the group have increased by 16 per cent this year.
“The group faces competition risk from both Ƶ and overseas haulage and freight forwarding companies. This puts pressure on the group to keep rates low and can be difficult given fluctuating shipping costs, fuel prices and currency rate movements.
“However, these risk are faced by all companies operating within this industry.”
Neill & Brown employed almost 150 people during the 2018/19 year.
First established in Hull in 1917, the century-old business today operates fleets of vehicles across the Ƶ and countries including Italy, Belgium, Germany, France, Denmark and Spain.
One of the city’s best-known businesses, Neill & Brown was last week also a finalist at the 2019 Hull Daily Mail Business Awards, in the Large Business of the Year category.
Mr Brown recently spoke out about the potentially devastating impact a no-deal Brexit could have on the haulage industry.
Huge concerns surround the small number of truck permits which have been granted to logistics companies for European travel.
Another major issue, according to the Hull transport boss, is the customs clearances documents and duty payments which will be needed to move goods to and from Europe.
Mr Brown said: “I started my career 50 years ago doing customs clearance documentation. Ironically, it might be how I finish it.
“If we move a shipment from China, we have six weeks to sort out all the documentation and organise payment of duty with our customers – if it comes from France, it might arrive in four hours.
“A no-deal Brexit will leave us to pick up the bill for the duty if the customer doesn’t have a duty deferment account.
“It will be highly risky and the whole process will be extremely complicated.”
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Business Live's Hull & East Yorkshire journalist is Phil Winter, also the business editor at the Hull Daily Mail and Hull Live.
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