Nightfreight announced financial results that demonstrated solid progress and anticipated that profit during the 2009 financial year will be sustained despite the economic climate. The company performed well above the sector average, achieving a rise in profit before interest and tax from 800k in 2007 to £2.3million in 2008 whilst turnover remained the same.
Robbie Burns, Chairman at Nightfreight, commented: “Throughout the 2008 financial year we 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 difficulty. 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 networks 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 and variable charges is appealing to customers. The combination of both services results in a more flexible supply chain cost base.”
Key highlights included achieving new levels of operating productivity in all areas of the business and deploying new variable charging solutions on a ‘pay as you go’ basis. Meanwhile, the company continued to invest in new fleet, handling equipment and IT systems, whilst implementing a training programme to instruct all customer care staff on Nightfreight’s ‘its personal’ commitment.
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 a very competitive market.”
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