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Reed Boardall Group’s financial performance continues to show resilience
Yorkshire-based cold storage and transport business The Reed Boardall Group Limited has once again achieved strong results despite operating in a highly competitive market with rising costs. The company grew turnover to £61.6m in its last financial year (ending 31 March 2018), a 2.3% rise in revenues from £60.2m last year.
Boroughbridge-based Reed Boardall, one of the best-known names in temperature controlled logistics for the last 25 years, was also able to continue its consistent, steady performance by achieving increased volumes compared with the previous year. The company saw adjusted EBITDA hold steady at £3.44m (2017: £3.53m).
“As a trusted partner to many of the leading retailers and food manufacturers in the UK, remaining at the forefront of the sector and continuing to provide high levels of service, implement meticulous safety procedures and invest in the latest innovations remain a priority,” explains Marcus Boardall, deputy chief executive of The Reed Boardall Group.
“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, finance director, adds: “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.
“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, storing and delivering frozen food from manufacturers across Britain, Europe and further afield to all the UK’s best-known supermarkets. Operating 24/7, its 170-strong fleet of vehicles moves an average of 12,000 pallets a day and it stores around £100m worth of products on behalf of its customers. It employs over 750 staff at its single site in Boroughbridge, Yorkshire.
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Oakland Director, Robert Hardy, commented: “Whatever form of Brexit we end up with the safe movement of goods will still need to continue. All parties in the food supply chain from producers and manufacturers, hauliers, importers and retailers, they all have legal responsibilities under regulation EC178/2002 to ensure our food safety, with heavy penalties applied if these regulations are breached.”
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