Langdon Group profit PIMINE
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CONTROLLED-TEMPERATURE distribution specialist Langdon Group has boosted its profit by 15.9%.
The Somerset-based company posted a pre-tax profit of £2.93m for the year ended 31 December 2009, compared with a pretax profit of /2.53in in 2008:turnover remained virtually flat, falling by just 0.75% to /55.1m in 2009, from £55.57m in 2008.
Langdon MD Arran Osman says the improvement in profitability was the result of "greater efficiency" in load fill and vehicle use in combination with an -intense focus on core cost centres. such as labour, fuel and maintenance, as well as reduced financial charges resulting fr0111 low interest rates-.
"Unfortunately, we lost significant volume as a result of a large customer's restructuring measures and the ensuing decision to take its business in-house," Osman continues, adding that the weakened rate of the pound against the euro has reduced import volume from its parent company Nagel Group.
"Despite such losses, we have worked hard to gain new business from existing and emerging customers and our high-quality service alongside flexible rate tariffs have ensured that we continue to grow market share, although we are in no doubt that 2011 will be another challenging year for Langton and the industry in general."
Langdon has expanded its network to cover the entire country, starting with the opening of its eighth UK depot in Dodsworth, near Barnsley, in November. As a result, Langdon parted company with longterm ChillNet partner. Newcastle-based David Price Foods, to service customers in Yorkshire and the North-East directly. David Price Foods subsequently formed the Absolute Temperature Network.