Hannon Transport posts profit as it reveals Brexit impact concerns
A Co Armagh haulage and transport giant which has grown profits to almost £1m and sales to £42m has warned a no-deal Brexit would have "significant impact" on operations.
Hannon Transport, based in Aghalee, saw business grow significantly according to the latest accounts ending January 2019.
However, reporting on the accounts, it said: "The uncertainties, especially around the Irish border, and the lack of customs clearance resources and skills within Ireland, have made planning challenging."
The company transports fruit and vegetables into Ireland from Europe and dairy and meat out of Ireland.
Hannon believes that its operations will be gravely impacted should free movement be restricted while using the UK as a land bridge.
It added: "However, during 2018 and continuing into 2019, we have put considerable human and financial resources into preparing both our business and our customers' businesses for the potential new reality."
The company, run by Aodh Hannon, said part of its growth was down to its burgeoning coach business, through the addition of "coach hire and fleet sales businesses".
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Revenues have risen by more than a quarter in the last year, according to the latest accounts, while pre-tax profits are now at £933,000.
The group includes a range of businesses, including Hannon Logistics, Hannon Coach Hire and Hannon Fleet Sales.
The company said it is "investigating further opportunities to expand our ambient offering and further utilise the 2018 extension to our cross-docking facility in our Dublin depot".
In its accounts, it added: "The group's turnover increased in 2018/19 through a combination of organic growth in existing markets for Hannon Transport and through the addition of our coach hire and fleet sales businesses.
The group's revenue of £42.2m represents a 27% increase over the previous year.
"The results and financial position at the year-end were considered satisfactory by the directors, after factoring in the associated costs of the two companies established in 2017," the company added.
"We continue to offer high service levels to customers and manage growth through continued investment in our workforce, fleet and depots."
Hannon Transport said it has continued its offering to and from Germany and is growing its services in "this highly significant market in a controlled manner to ensure quality of service and allow Irish producers to build their markets in a similar fashion".
The group employs 227 staff.