Multimodal 2019

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Yusen Logistics reports profits up

Yusen Logistics

The UK arm of an international logistics giant, which works with the likes of watch maker Seiko, Mitsubishi and AstraZeneca, has reported a rise in revenue and profits for its latest financial year.

Japanese-owned Yusen Logistics, which is headquartered in Northampton, has posted revenues of £237.7m for the year to 31 March 2018, up from £231.1m in the prior 12 months.

Its pre-tax profits also rose from £2.4m to £2.5m during the same period.

The company also has worked with the likes of Glenmark Pharmaceuticals, Haier, Hoover Candy, Honda, Casio and Halfords and operates in the automotive, aerospace, retail, healthcare, technology and food sectors.

It has bases in Manchester, Leeds, Rainham, Bristol, Staines, Tamworth, Wellingborough, Egham, Nottingham, Bedford, Milton Keynes, Sunderland, Derby, Glasgow and West Drayton.

A statement signed off by the board said: "The company operates in an increasingly challenging environment, with continuing cost and exchange rate pressures.

"It is committed to continuous improvement in service quality and cost management in order to deliver innovative, flexible and cost effective solutions for its customers.

"The directors expect the general level of activity to increase in the forthcoming period as a result of strong focus on growth across all business activities but particularly in air, ocean and control tower operations.

"Following the referendum result to leave the European Union and the uncertainty following the general election, the general economic picture is unlikely to be helpful, however management will continually monitor the situation and take action where possible to mitigate risk to the company."

In February, the business acquired Transfreight Automotive Logistics Europe which added revenues of £7.8m.

Work started in July 2017 on a new 379,000 sq ft distribution centre in Wellingborough for the company and construction was completed earlier this year.

 

Source: InsiderMedia

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