The Oxfordshire-based haulier, Chris Hayter Transport, has announced a satisfactory increase in profit and turnover for the year ending 31 December 2023.
- Turnover rose to £30.4 million, compared to £29.3 million in the previous year, signalling strategic growth.
- Pre-tax profit showed a modest rise, reaching £2.3 million, up from the £2.1 million reported in 2022.
- The company highlighted a 3.7% increase in turnover, with the gross profit margin climbing to 24.45%.
- The firm chose not to comment further on the financial results, although it maintains a solid financial standing.
Chris Hayter Transport, a family-owned haulier based in Witney, Oxfordshire, with additional depots in Skelmersdale and Heywood, Lancashire, has reported a rise in both profit and turnover for the financial year ending 31 December 2023. This performance has been described by the company’s directors as ‘satisfactory’, an indication of the company’s strategic growth during challenging economic conditions. The company specialises in various logistics services, including distribution, warehousing, and home deliveries, serving sectors such as industrial flooring, food, and retail.
The firm’s turnover increased from £29.3 million in 2022 to £30.4 million in 2023, marking a substantive progression in its revenue streams. The directors highlighted this as a 3.7% increase in annual turnover with pre-tax profits also experiencing a rise to £2.3 million compared to £2.1 million the previous year. The gross profit margin improved significantly to 24.45% from 21.16%, reflecting the company’s efficient management of costs against sales. Such fiscal prudence enables the company to consolidate its trading position firmly.
The company’s strategic report for the year outlined its objectives of maintaining turnover and profit levels, which have been met according to the data provided. The report confirms that pre-tax profit and dividends represented 7.60% of sales, aligning with industry norms despite the prevailing economic climate.
Employee numbers were also reported, with an overall staff reduction to 328 in 2023 from the previous count. The number of drivers decreased slightly to 120, whereas warehouse staff remained constant, and administrative staff saw a rise from 50 to 56.
Despite choosing not to provide additional commentary on the results, the strategic report expresses a positive outlook regarding the financial robustness of Chris Hayter Transport, underlining the directors’ satisfaction with the company’s stability and growth trajectory.
Chris Hayter Transport’s latest financial results underscore the company’s successful navigation through a challenging economic landscape, indicating stable growth and operational resilience.
