Somerset-based haulier R T Keedwell defied the economic downturn by substantially increasing profits and boosting turnover in the last financial year. The company increased pre-tax profit to more than £3 million in the year to 31 October 2007 (2006: £1.8m) on turnover up nearly £2m from £34.46m to £36.41m.
But in a statement the company warned that economic conditions were beginning to bite this year and admits "there are concerns that profit
margins might not be sustained".
Keedwell has bought several other hauliers in recent years, and now operates more than 400 tractor units and 800 trailers from 10 depots nationwide, including Manchester, York, Carlisle and Glasgow. The firm was founded in 1969. In a statement, the company says: "The directors are very pleased with the results and anticipate further growth in the current year, both from contract gains and selective further acquisitions."
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