•Performance well above the sector average
•Debt reduction and new investment program
Leading network solutions business Nightfreight has today announced its results for year ended 30 November 2008. Key highlights include a rise in profit before interest and tax from £800k in 2007 to £2.3million in 2008 whilst turnover has remained the same. The Board anticipates the profit in the 2009 financial year to be sustained at the same levels as 2008 despite deterioration in the economic climate.
Robbie Burns, Chairman at Nightfreight, said: “Throughout the 2008 financial year we have reduced our operating costs to match the reduced levels of volume in the network and continued to add new customers to all areas of the business. We have become more agile in managing costs and in our ability to support customers who are seeking change in times of difficult economic conditions. All this is reflected in our results.
“Nightfreight is continuing to make progress with a programme of restructuring, debt reduction and investment in the business. We are successfully repositioning ourselves as a solutions provider able to bring significant benefits to our customers through a broader range of both dedicated and shared-use network services. Solutions that combine Nightfreight’s dedicated contract distribution fleets with the company’s linked network, to provide additional peak capacity only when it is needed, are increasingly appealing in a difficult economic climate. The combination of both services results in a more flexible supply chain cost base.
Within the report and accounts a number of key activities have been highlighted as particularly successful. These include:
•Achieving new levels of operating productivity in all areas of the business
•Deploying new variable charging solutions on a ‘pay as you go’ basis
•Matching the cost of service with customer activity levels
•Continuing to invest in new fleet and handling equipment
•Training all customer care staff on ‘its personal’ level of customer care commitment
•Adding new IT developments and web portals to support customer information requirements
Concluding, Robbie Burns, Chairman, said: “There is no doubt that our market position of helping customers convert their 52 week fixed transport costs into a greater level of variable charging, whilst improving services, has proven attractive in difficult economic conditions.”
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