Development work is currently progressing well on the four-acre site at Billingham which has been secured and will see the opening of their 11th branch in August, resulting in an investment of £4.5m.
Before this time, the business will be receiving 12 new HGV wagons into its fleet at a cost in excess of £1.5m to enhance the operational and delivery capability of the family-owned firm.
The number of crane vehicles will increase to 40 as a result of these additions, all with the most efficient Euro 6 rating, which aligns to the objective over the coming year of achieving ISO 14001 accreditation and an upgrade from FORS Bronze to FORS Silver which is the Fleet Operators Recognition Scheme, the vehicle operators’ industry-wide recognized best practice for safety, efficiency and environmental best practice.
Recently filed accounts at Companies House for the year to October 2021 reflect an exceptionally strong business performance with turnover 34% up on the year at £91.6m, and 27% ahead of pre-Covid results from two years earlier.
Improvements in the working capital position and a further reduction in the debt burden represent an impressive strengthening of the balance sheet, leaving James Burrell perfectly placed to pursue further growth opportunities.
Managing Director Mark Richardson commented “The last two years have been a real team effort. As a multi-generational family owned and managed business, our priorities have been the health and safety of our staff, customers and suppliers. Our industry has been challenged by the impacts of Covid, the constant pressure of supply chain disruption and significant price increases. Despite these we have found a way to maintain a strong service-based growth within the business”.
This current round of investment will strengthen and advance James Burrell’s customer service offering through both logistical operations and reinforced personnel and despite pressures in the wider economy, the business remains optimistic and excited for its prospects in the year ahead.