Currie European Transport ‘Pleased’ With Annual Financial Results
Dumfries-based Currie European Transport said it was ‘pleased’ with the progress the business had made over the last 12 months, after latest financial results showed pre-tax profit had more than doubled to £190,000, writes Chris Tindall.
Turnover at Currie Solutions (its trading name) fell by 5.2% to £29.8m in the year ending 30 June 2024, but it said its UK transport services had remained resilient.
Operating profit was up 47% to £534,000.
In a review of its business, the company said: “The directors are pleased with the continued positive progress the business has made during the past 12 months despite the ongoing economic and industry challenges which persist.
“Overall, underlying core sales are trending upwards compared to last year once we account for the movement out of our air and ocean service and adjust for significantly lower fuel surcharges added to customer invoices in the 23/24 year, resulting from diesel prices returning to a consistently lower price point.”
The company added: “Fleet operating costs continued to rise above inflation during the year, which is why we need to be resilient with customer price reviews.
“The national driver situation has worsened again leading to higher use of agency drivers.
“We continue to roll out above inflation wage increases to drivers to help ease the situation but the continual substantial increase in the living wage rate inevitably applies wage pressures which are difficult to absorb during the year.”
The company had not responded as we went to press.