Surging warehousing demand strengthens WH Bowker profit in 2022
Rising demand for warehousing and a strong financial performance in the previous year has helped WH Bowker International increase both turnover and profit in 2022. The family-owned company, which is headquartered in Hull, specialises in UK and European transport services and is part of WH Bowker group of companies. The Palletline member operates a fleet [...]
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Rising demand for warehousing and a strong financial performance in the previous year has helped WH Bowker International increase both turnover and profit in 2022.
The family-owned company, which is headquartered in Hull, specialises in UK and European transport services and is part of WH Bowker group of companies.
The Palletline member operates a fleet of around 225 trucks and 450 trailers across 12 distribution centres in the UK and has 1.5m sq ft of warehousing.
It offers palletised storage, international distribution, hazardous goods transportation, next-day UK distribution, and value-added services such as complex picking and packing warehousing solutions.
In its latest annual results, for the year ending 31 December 2022, the company saw turnover jump to £19.6m (2021: £16.5m) with pre-tax profit rising to £870,000 up from £752,000 in the previous year.
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Turnover in its storage and services business was £1.4m for the period, up from £1.36m in 2021.
In its business review to the results WH Bowker International said the business had seen a “positive 2022 building on the momentum achieved last year” adding it was “continuing to capitalise on the demand for warehousing space continuing to outstrip supply”.
It also credit its investments in IT and technology for helping to deliver improved turnover and results in the period.
During the year WH Bowker group acquired haulier James Nuttall (Transport) and its commercial MOT testing centre, Queensway Commercials for £9m. In June, James Nuttall (Transport) was renamed as WH Bowker (Rochdale).
The transaction saw the Rochdale-based businesses bolster Bowker’s fleet by adding a further 48 commercial vehicles as well as the DVSA Authorised Testing Facility.
Turning to 2023, the review said that the directors were looking to improve profitability, “particularly with reference to the new post-Brexit customs clearance service scheme” as well as by controlling its overhead costs.
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