Losses triple at Saints despite rise in turnover

摘要

Air freight haulier Saints Transport more than tripled its losses in the 18 months to 30 June last year. In its latest financial results the family firm, based at Heathrow, revealed that despite increasing turnover to £34.8m (2017: £24.3m), its losses ballooned to £1.5m (2017: £497,837). Saints Transport's gross profit margin fell from 22.7% in 2017 to 18.62% in 2019, which it said was the result of oil price rises. In its strategic report to the results, Saints Transport said that despite the impact of Brexit and the Covid-19 pandemic, which "potentially threatens staff health and expected cashflows", it is confident it has "sufficient resources available to meet the group and the company's obligations and to enable it to operate in the foreseeable future'.' However the company directors also noted that "there exists a material uncertainty at this time" in relation to the ability of Saints Transport to continue as a going concern - a view echoed by the company's auditor in her report on the firm's results.