Park Logisitics - Creating Supply Chain Solutions

Park Logistics - Creating supply Chain Solutions

Creating Supply Chain Solutions
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Hicks Logistics experiences "phenomenal" growth in new warehousing division

  • 02 June 2014
  • By Hayley Pink

South Wales haulier Hicks Logistics is looking to boost revenue from £9m to £15m per year following the acquisition of its second warehousing site in the space of a year – a 30,000ft² unit together with a purpose-built three-acre transport yard near its existing base in Caldicot.

Hicks diversified into warehousing in July last year when it bought a 20,000ft² industrial unit, but told Commercialmotor.com that “phenomenal” customer demand has led to the facility already operating at full capacity.

The new site – a former waste paper recycling plant – comes complete with weighbridge, fuel tanks, and a secure yard area. The company will take on 10 new employees to support the expansion, bringing total staff numbers to 95.

Hicks specialises in transporting powered access equipment and construction-related timber products, alongside its general haulage and pallet operations through network Fortec. It operates a 70-strong vehicle fleet and runs 110 trailers, including 30 semi low-loaders.

Latest accounts filed with Companies House for the year ended 30 June 2013 show a pre-tax profit of £361, 237 from turnover of £7.06m. The company is predicting revenue of around £9m for 2014, with a longer-term aim – once the new warehouse is up to capacity in the next two to three years – of achieving turnover of £15m per annum.

MD Terry Hicks told CM: “We moved into warehousing last year but the growth of that side of the business has been phenomenal, that is why we have purchased this much larger unit, which also provides storage space for our vehicles. This latest investment gives us significant capacity for growth and will enable us to introduce new customers to further expand the business.”
 
Major customers for Hicks include Premier Forest Products, UK Platforms and HSS.

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Article source: http://www.commercialmotor.com:80/latest-news/hicks-logistics-experiences-phenomenal-growth-in-new-warehousing-division