YORKSHIRE-based logistics company the Potter Group yesterday revealed that it had recorded a substantial rise in full year profits, despite losing a big customer.
In the year ended April 2011, the company, which is based in Melmerby, near Ripon, in North Yorkshire, posted a 29 per cent rise in pre-tax profits to £817,000. Turnover was £14.7m, which is a slight fall on the £14.8m recorded the year before.
The company’s balance sheet remained strong with net assets of £31.7m.
Managing director Matthew Lamb said the company had managed to increase its profits in the face of a difficult economic climate.
He said the company had also lost a major unnamed customer in 2010.
He added: “We have continued to control costs, maximise the use of all our assets and invest in our employees.
“Turnover has been maintained by organic growth with existing customers.”
The Potter Group recently signed a five-year storage and distribution agreement with chemicals company Johnson Matthey.
Mr Lamb said yesterday: “To service this new operation, we have built a 50,000 sq ft, £2m dedicated warehouse with associated infrastructure at our Ripon site.”
Around 100 of the company’s 230 staff are based in Yorkshire.
The company also has distribution centres in the West Midlands and Merseyside.