Profits rise but Brexit concerns linger for haulier Neill & Brown
Neill and Brown is an East Yorkshire logistics company
By Hull Daily Mail | Posted: 4 Dec 2018
An East Yorkshire-based haulage and logistics firm has seen its profits and turnover rise after a successful 2017/18 year.
Neill & Brown Global Logistics, headquartered in Hessle, said demand for its services had “remained strong” during the last year, as turnover soared to £27.6m.
The business, which also opened a new £2.5m warehouse in Hedon Road in 2014, did however warn that it faced competition from both rival companies in the UK, and overseas haulage firms.
Its director also recently spoke about the consequences a no-deal Brexit could have on the company.
Peter Brown, director, said: “Demand for the group’s services during the year has remained strong.
“Turnover for the year increased to £27.6m (up from £24.1m in 2017) and profit after tax for the financial year increased to £1.7m.
“The group has made a strong start to the next financial year.”
Neill & Brown was established in Hull back in 1917.
Today, the haulage firm has operations across the world, with its fleet of vehicles travelling through countries including Italy, Belgium, Germany, France and Spain on a daily basis.
Despite its strong performance in 2017/18, Mr Brown said the company was aware of competition from rival businesses.
He said in recently filed accounts: “The group faces competition risk from both UK and overseas haulage and freight companies.
“This puts pressure on the group to keep rates low, which can be difficult given fluctuating shipping costs, fuel pieces and current rate movements.
“However, these risks are faced by all companies operating within this industry.”
Mr Brown recently also spoke about the consequences a no-deal Brexit could have on both Neill & Brown, and the haulage industry.
He said in an interview given to Business Insider: “While we have achieved continuous growth and more employment at Neill and Brown, a no-deal Brexit will have serious consequences for us and the industry as a whole.
“Over the years, logistics companies have developed supply chain systems to deal with demand from international trade – not only heavy investment in equipment, but also in IT systems to monitor timed deliveries and collections. A no deal could render this type of ongoing investment pointless.
“Our borders must be kept open to free movement of goods. If there are duties to be paid on imports, it will create large revenues for the government, but also increase the costs of goods to public as the extra costs must be passed on. It will subsequently increase inflation and in turn affect investment in this country,” Mr Brown said.
The director also said a no-deal Brexit would be “a huge backwards step” for the firm.