Turnover passes £100m at PE-backed logistics company

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Turnover at a private equity-backed logistics company has jumped past the £100m mark, according to new figures.

Wolverhampton-headquartered Pallet-Track has reported a turnover of £105.4m for the 12 months to 31 January 2020, up from £94.5m.

However, its pre-tax profits dipped form £5.1m to £3.5m over the same period.

The results come after a controlling stake in the business was acquired by a private equity investor towards the start of 2019.

Pallet-Track also has bases in Wigan, Hailsham in Sussex and Welwyn Garden City.

A statement signed off by the board said: "The current Covid-19 crisis has introduced material uncertainty into the economy and there is a risk that both existing customers and potential new customers

 link source - Insider Media

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