United Pallet Network (UPN) reported revenues of £14.1m in the year ending March 2023, a 3.3% increase on the previous year.
Profits also grew; pre-tax profit was up 4.1% to £5m, compared to £4.8m in 2022.
Operating profit was also £5m, a 4% increase on the previous year.
The network said it had made significant progress during the trading period on the key elements of its strategy; gross profit percentage increased to 75.3% from 74.4%, net profit increased 0.3% to 35.4% and its liquidity ratio during the year was 2.07, compared to 1.81 in the previous year.
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In a review of its business UPN said the company’s position was satisfactory and it was optimistic for the future: “The company continues to grow in respect of the number of pallets moved on a nightly basis,” UPN said.
“The company will continue to develop its internal systems and IT infrastructure in the coming year which will maintain UPN’s position as a market leader within the pallet sector.”
This summer, the network said its presence in the east of England had strengthened after members in the region enjoyed significant expansion.
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