Record half year for logistics firm as demand soars
Nottingham-based logistics firm Baxter Freight has announced record first half-year results, as it now predicts turnover of ‘at least’ £28m for 2021.
The company says the results were achieved despite facing both the effects of COVID-19 and the complexities of Brexit, which have challenged global supply chains and the logistics industry.
Half-year turnover increased from £7.7m by June 2020 to £12.9m by June 2021, with expected turnover of at least £28m for 2021, £10m above the prior year’s figure.
Baxter Freight said it is now progressing its ‘Fast Forward growth plan’, projecting turnover of more than £35m by the end of 2022, helped by employing an additional 50 people.
2021 has already seen a net increase of employees, which will take the business to over 100 people for the first time by the end of the year.
Further developments include investing in its air and sea teams, reflecting the UK Government’s policy of developing overseas trade.
This move, coupled with its new24/7 customs support team developed for Brexit, has doubled the number of people in operations roles since December 2020.
Peter Isler, managing director, said: “While the pandemic caused unexpected delays to our Fast Forward plans, we’re delighted to see not only the recruitment drive, but also our predicted figures coming back to life as we bounce back bigger and stronger than before.
“Our renowned customer service has supported our customers well throughout the pandemic. On top of that, we’ve developed market leading solutions for both imports and DAP and DDP exports between the UK and Europe. This is allowing us to outperform our Fast Forward plans – with turnover of £12.9m in the first half of the year, and expected turnover of at least £28m for 2021 – £3m above our goal.”