Pictured above: Steve Rafferty
The RH Group Ltd has enjoyed its best start to a year ever in
2010. The company has recorded year-on-year consignment growth in
the six months to 30 June of 23% against the same period in 2009.
On this basis the company forecasts to move in excess of
425,000 consignments in the full year - its best ever
figure.
This announcement was made as RH published its 2009 figures, in
which the Group, which has an HQ in Nottingham showed a strong
performance in spite of the pressures facing the freight industry
and the wider economy.
In the year to 31st December 2009 The RH Group Ltd made a profit
before tax of £3.5million (Eur 4.2 million), only 1.6% down
on 2008. Group turnover was £113 million (Eur 136 million), a
drop of 12% on the previous year's turnover of £129 million
(Eur 155 million)
Commenting on the results, Group Finance Director, Steve
Rafferty said: "Considering the state of the economy, especially in
the early part of 2009, we are very pleased with the full year
results. Certain parts of the Group were operating in
particularly difficult trading conditions. For example, the overall
market for European freight was believed to have fallen by around
20%. In Finland, where we have our own subsidiary, freight volumes
through the ports were down by approximately 40%.
He added "The overall results are particularly pleasing when you
consider the figures contain restructuring costs of around
£0.75 million."
Efficiency savings at RH, due in part to continuing
technological improvements have already had a very positive impact
on the first quarter of 2010. Strong consignment growth in RH's UK
based European freight operation and ongoing improvements in the
Finnish company and commercial vehicles business have
resulted in first quarter profit before tax in excess of
£1.1 million, a record first quarter result for the
Group.
Steve said "We are now seeing the full positive effect of the
improvements we have made. Continued investment in creating even
better products, in our IT infrastructure and in development of our
team has led to improvements in the quality of service given to
customers. We believe that this exceptional level of customer
service, coupled with the reliability derived from our unrivalled
offer of daily services to 34 major cities throughout Europe has
allowed us to grow our business quicker than our rivals as
the economies of the UK and Europe have improved.
RH is predicting a successful year ahead, "Cleary there are
still some significant uncertainties about the economies of both
the UK and continental Europe but we remain committed to investing
in key areas of our business. Ongoing investment will allow us to
increase sales and profits even during these continued difficult
times. In summary, we expect significant growth in the full
year and are confident 2010 will be a record year for the
Group."
Celebrating its 40th birthday in 2011, RH continues to innovate
and drive forward to expand its offering. Its European daily
services offer has now grown to 34 destinations from hubs in
Nottingham and West Thurrock enabling it to offer greater
reliability than its competitors. The Group is also in discussions
with interested parties about the development of a new Southern hub
that will not only replace and increase the capacity of the
existing terminal at West Thurrock but will also give the Group an
increased presence in the logistics and sea freight market.
The Group has recruited an additional 30 Freight Account
Managers in 2010 as part of a two year programme to increase the
sales and customer service capabilities in its 17 offices across
the UK. This development programme is the largest investment the
freight operator has made in this service and is part of its
dedication to becoming even closer to customers so as to be even
more successful in the future.