Turnover hits £100m… but logistics firm remains cautious

Burton-based palletised freight network Palletforce has seen its turnover smash through the £100m barrier – but remains concerned about events “outside of their control”.

The results for the year 2015 are down to the economic recovery in the UK, says Palletforce, which was bought by the Forcefield Group – itself a company wholly controlled by Hong Kong’s EmergeVest fund – last October for £30m.

Profits for the year came in at £3.3m – an operating margin of 3%, slightly down from the 4% achieved on profits of just under £3m in 2014.

A statement from director Neil Carpenter said: “The general business environment in which we operate continues to be challenging and there still remains uncertainty as to the long term future growth on the wider UK economy. Question marks remain over the performance of the Eurozone and other large global economies such as China.

“Therefore, the directors are aware that any plans for the future development of the business may be subject to unforeseen events outside our control.

“However, the directors consider the performance of the continue to be extremely positive and the cash position remains strong.”