Pallet-Track has revealed record levels of growth after publishing its latest accounts.
Figures from the Wolverhampton-based pallet network show a leap in profits of more than 44% for the last 12 months, for the period ending December 31, 2024.
Its success has been delivered through the tremendous partnership with its shareholder members, delivering best in class service with improved efficiencies, resulting in increases in pallet volumes.
In the past year, Pallet-Track managed 4.1 million pallets, up 4.7%, on the previous year.
Major investments in technology have also supported its growth, with improvements to tracking and visibility software, along with forklift truck safety, also boosting efficiency across its network.
Figures published today show the Pallet-Track Group generated a total revenue of £150.7 million, up £12.3 million, or 8.9% year-on-year.
Its Adjusted EBITDA of £7.4m is up £2.3m, or 44.1%, year-on-year, the highest EBITDA in the group’s history.
This has been reflected in an overall gross profit margin of 56.1%, up 1.4% year-on-year, and a net profit margin of 12.3%, up 1.1%, year-on-year.
Pallet-Track’s operating profit of £3m is up £1.8m, a 140% year-on-year growth.
As well as significantly growing its income, Pallet-Track also invested £1.8m in capital expenditure projects, the highest level of investment made by the group in a single year.
Stuart Godman, CEO at Pallet-Track, said:
“This is an incredible set of results and an extremely exciting time for our Shareholder Network. We are enormously proud to be delivering these levels of growth during particularly challenging times for the logistics industry.
“Pallet-Track used to be known as the best kept secret in the sector, however, we have demonstrated the power of our Shareholder Network, shown the strength of the brand and our vision and commitment of being an industry leader.
“We have a wonderful foundation for future growth, built on service excellence and this is further proof of the commitment of our fantastic colleagues and Shareholder Members who truly make it happen.”
