MAXI Caledonian Ltd, holding company of Maxi Haulage Ltd; reports a successful year to 30 September 2019 with slightly lower turnover but increased profits.
The haulage business reveals huge costs associated with Brexit, panic buying and Irish business which reduced profit to a marginal level, while still investing £4 million in vehicles, plant and facilities during the year.
The Irvine, Ayrshire group continues with positive cash flows and substantial financial reserves, no borrowings and owns outright all its depots, vehicles and plant, said chairman Gerry Atkinson who continued, ‘The haulage business has continued throughout the Covid-19 crisis maintaining service to key industry customers but at reduced turnover.
‘Plans are in place to cope with further Covid-19 outbreaks and we expect the companies to achieve a low level of profitability in the current year to September.’
During this financial year Maxi Construction completed the design and construction of a 12,000sq.ft steel framed warehouse for Maxi Haulage at their Bellshill Depot. The redeveloped depot now provides 22,000sq.ft of warehousing and office accommodation.
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