Profits slide at Rhenus despite Post-Brexit warehousing boom
Strong demand for UK warehousing and storage services following Brexit helped Rhenus Logistics boost turnover by 8.2% last year.
However, profits reduced due to increased investment in employee costs, as well as the reduced government assistance from its furlough scheme, coupled with inflationary pressures.
Latest financial results for the year ending 31 December 2021 showed revenues rose to GBP12.4m from GBP11.4m in 2020. "The increased turnover has been primarily driven by strong demand for UK warehousing and storage services following [...]