Turners (Soham), MT's Haulier of the Year for 2008, has revealed a stellar financial performance for the year to 29 December 2007.
It grew turnover 34% to £196m from £146m in 2006, while pre-tax profit rose to £21m from £18m the previous year, representing a margin of just under 11%. Without income from its joint venture, Profresh Solutions, which represents £17.9m of turnover, the firm still generated revenue of £180.4m.
A large proportion of the turnover growth was driven by its acquisition of bulk powder haulier CRW, which added £22.9m to revenue, as well as contract wins in its fuel distribution division.
According to a division-by-division breakdown, the firm grew turnover across the board, with its tanker business bringing in £88m and general haulage £34m – up from £54m and £22m respectively. The temperature-controlled division also generated revenue of £58m, up from £55m in 2006.
The directors' report adds: "The haulage industry continues to be competitive and the rapidly increasing fuel cost, together with potential competition from abroad, emphasises the need to control costs and increase efficiency.
"We continually review these areas and while trading in the current year is likely to be challenging, we believe the company is well-placed to meet its challenges and to continue its successful development into the future."
The report also notes that with net assets of £111m it "continues to fund suitable acquisitions when the opportunities arise".
Indeed, Turners has bought two firms this year: the bulk powder operation of Norwich firm Derek Cooper Transport in January (MT 24 January) and Cumbrian haulier Sam Ostle, acquired in July.
Turners was unavailable for comment at 
the time of writing.