HGV trailer maker in ‘extremely positive position’ after best ever results despite Covid-19

A HVG trailer maker which works with the likes of B&M, Sports Direct and Home Bargains has reported its best ever set of results, despite the impact of Covid-19, and said it is in an “extremely positive position” for the future.

Cheshire-headquartered Tiger Trailers has reported a pre-tax profit of £2.1m for the 12 months to December 31, 2020, up from £510,232, in newly filed documents to Companies House.

The business also revealed a gross profit of £7.2m, up from £6.4m and an operating profit of £2.5m, a rise from £1.2m.

The company’s turnover however dipped from £47m to £44.1m over the same period.

Tiger Trailers also works with Royal Mail, UPS, Argos, Poundland and AO.com.

A statement signed off by the board said: “The company continued to make positive progress during the year to December 2020 and the directors are satisfied with the financial performance as reported in these financial statements.

“The year was impacted by the Covid-19 coronavirus global pandemic, which led to the factory needing to close from the last week in march up until re-opening on the 20th of April, with reduced active workforce, with many of our workers being put on the government furlough scheme to enable us to operate a socially-distanced workplace.

“We implemented the strictest of measures in terms of cleanliness and social distancing which were successful and enabled us to gradually increase our factory workforce back up to an efficient number by September whilst also ensuring those staff members who could work from home did so.

“Despite the factory stoppage and the other Covid-19 costs which we incurred, the performance in the year is the best in our history, which is testament to the last seven years’ hard work by everyone involved in creating the company that we are today.

“The company has continued to innovate during the year, which has enabled it to design and produce more efficient trailers and new products that have not been available in the market before, ultimately brining cost savings to our customers and an increased interest from potential customers.

“Looking ahead, 2021 will see increased activity in our trailer rental activities and refrigerated product range.

“We continue to attract new customers and our confirmed order book is slightly higher than is normally the case at this time of year.

“This, coupled with a strong sales pipeline, puts us in an extremely positive position for 2021 and beyond.”