Global freight firm Warrant sees profits rise by £1m
Liverpool logistics and freight forwarding business Warrant Group sees annual profits rise by £1m to £3.7m but figure still well below £12.9m reported three years ago. Tony McDonough reports
Logistics and freight forwarding business Warrant Group is reporting a rise in annual revenues and profits but it is still well behind where it was three years ago.
Based in Liverpool’s northern docklands, Warrant Group has just posted its annual accounts for the 12 months to January 31, 2025, on Companies House. They reveal revenues of £56.4m and pre-tax profits of £3.7m.
Both figures are higher than the £44m in revenues and the £2.7m in pre-tax profits reported 12 months ago. However, they remain well below the £82.7m revenues and £12.9m pre-tax profits reported three years ago.
Similar to many other firms in its sector, Warrant, which employs around 60 people, has faced challenges from the fall in container freight prices and volumes. Those challenges remain but the business is optimistic about its future prospects.
Writing in the annual report director John Healy said: “The directors are satisfied with the financial performance of the company of the results for the year. The increase in turnover is attributed to the better buying power and container freight prices and volumes.
“Consumer spend is down as everyday costs for fuel, food and borrowing continue to increase. However, through the diversity of the business profile, the company remains positive in relation to future business performance.”
He concluded: “The directors are fully aware of such worldwide trading difficulties but believe the company is in a strong position and that the outlook is positive.”
READ MORE: How to avoid delays, high costs and logistics logjams
On February 1, 2023, previous owners of the business, Ian Jones and Lynsey Morrison, sold 90% of their shares to their employees under an Employee Ownership Trust (EOT), allowing them to step back from the business over time.
Speaking at the time Ian Jones said: “As owners of Warrant Group, Lynsey and I felt that an EOT fitted perfectly with our company ethos to secure the long-term future of the business.”