Reed Boardall delivers ‘strong’ results
Company faces rising costs and intense competition
THE Reed Boardall Group has revealed that it delivered “strong” results last year, despite facing rising costs and a fiercely competitive market.
Reed Boardall believes it can withstand any uncertainty caused by Brexit and hopes to grow in this financial year.
The company grew turnover to £61.6m in its last financial year, which is a 2.3 per cent rise on the revenues recorded the previous year.
Boroughbridge-based Reed Boardall has operated in the temperature controlled logistics sector for more than 25 years.
The company said it had been able to continue its steady performance by achieving increased volumes. The company saw adjusted EBITDA (earnings before interest, taxation, depreciation and amortisation) hold steady at £3.44m in the last financial year.
Marcus Boardall, deputy chief executive of The Reed Boardall Group, said the company was a trusted partner to many of the leading retailers and food manufacturers in the UK.
He said the firm was placing a priority on continuing to provide high levels of service as well as implementing meticulous safety procedures and investing in the latest innovations.
He added: “Given the fierce competition within the transport industry, along with rising fuel costs, this remains a challenging sector.
“However, with our long-established customer relationships and strong reputation, we are proving resilient and recently invested in a further 30 bespoke, aerodynamic trailers to complement our 300-strong fleet.”
Sarah Roberts, the company’s finance director, added: “Our strong results are testament to the efficiency of our single site model, giving customers a truly integrated cold storage and transport service, and establishing us as the largest consolidator of frozen food in the UK.
“Over the last financial year, we have not only been able to improve utilisation of our 142,000 pallet capacity cold storage facility, but also to win additional business on the strength of the ancillary services we offer including blast freezing, picking and packing.
Ms Roberts added: “In such a dynamic and competitive market, customers need a logistics partner which consistently delivers on its promises.
“With our 25-year heritage serving the UK food industry, we have a depth of experience which sets us apart from competitors and also the vision and commitment to continue innovating for the future.”
Reed Boardall is one of the largest temperature controlled food distribution businesses in the UK.
It stores and delivers frozen food from manufacturers across Britain, Europe and further afield to all the UK’s largest supermarkets.
The company’s 170-strong fleet of vehicles moves an average of 12,000 pallets a day. It stores around £100m worth of products on behalf of its customers.
It employs more than 750 staff at its single site in Boroughbridge, North Yorkshire.
In late 2018, the group upgraded its lorry fleet by investing £2m in new trailers. Reed Boardall added another 23 single-deck semi-trailers and seven double-deck trailers to its 300-strong trailer fleet.
Supplied by Fraserburgh-based vehicle manufacturer Gray & Adams, the 13.6m tri-axle trailers have been built to Reed Boardall’s specifications. They have satellite tracking to enable monitoring of the location and temperature of the vehicles.
Graeme Richardson, managing director of Reed Boardall’s transport division, said: “These latest trailers feature improved aerodynamics and load fill, giving them a stronger profile to deliver customers’ loads.”
We have a depth of experience which sets us apart
RESILIENT PERFORMANCE:Marcus Boardall, deputy chief executive of The Reed Boardall Group, with finance director Sarah Roberts.