Profit down at Glencar despite huge leap in turnover

By Daniel Gayne2023-02-22T11:47:00

Revenue up 160% but inflation and investment eat into bottom line

Glencar continued its rapid growth last year with revenues at the industrial and logistics specialist rising to £418m from £160m the year prior.

Despite the 160% increase in turnover, profit at the firm slid to £800,000 – down from £2.3m in 2021 – as the impact of price inflation and investment in the business was felt, according to accounts for the year to 30 September 2022.

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