Boroughbridge group toasts sound financial performance

Keith (left) and Marcus Boardall, of Boroughbridge-based cold-storage and logistics company Reed Boardall. (S)
Keith (left) and Marcus Boardall, of Boroughbridge-based cold-storage and logistics company Reed Boardall. (S)

Boroughbridge-based cold-storage and transport business Reed Boardall Group has put in another sound financial performance, revenues rising 3 per cent to just under £66m in the year to March 31, 2015.

The company, which serves retailers and food manufacturers throughout the UK, attributes its performance to an increase in volumes compared with the previous year.

Average store utilisation for the year reached 89 per cent, compared with 86 per cent during 2014 – an important developemnt for a group whose turnover and profit are largely dependent on the volume of stock in store.

The company also saw an increase in profit before exceptional items from £2.6m in 2014 to £3.2m in 2015, largely due to improvements in controlling some direct costs. However, the group’s transport activities continued to be challenging, with competition making it difficult for the group to recover the increases in cost incurred over the year.

Deputy chief executive Marcus Boardall said: “2015 was another year of consolidation for us, building on our sound financial track record and making further inroads into eradicating unnecessary costs.

“With more than 20 years serving the British food industry, we have a proven formula for success and our strong performance continues to validate our business model based on a single facility from which we are able to serve all of our customers’ needs efficiently.

“We firmly believe that this strategy allows us to excel in customer satisfaction and service quality and sets us apart from our competitors in a market which is increasingly dynamic and competitive.”

Reed Boardall, which employs more than 750 people from its Boroughbridge site, is one of the largest temperature-controlled food distributors in the UK, storing and delivering frozen food to the UK’s supermarkets.

Sarah Roberts, finance director, said: “We have established a highly efficient operation, perfecting the art of meeting orders by combining different products from various suppliers, both big and small, and passing on these cost savings to our customers.

“Over the last year, we have been able to further streamline the business, controlling costs more stringently and ensuring optimal usage of our 142,000-pallet cold-storage facility.”