UPN optimistic after profits edge higher

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.

The post UPN optimistic after profits edge higher appeared first on Motor Transport.

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