Midland-based freight network Palletways has revealed a seven per cent rise in turnover.
Palletways, which is headquartered in Lichfield, saw group revenues increase by £10.4 million, to £157.9 million, in the 12 month period to May 31.
The company offers collection and delivery services across 11 European countries and Susan Hundleby, Palletways group finance director, said much of its growth was from continental Europe.
She said: “The strong seven increase in our group turnover is a consequence of the continuing growth in all of our businesses despite the challenging economic climate across Europe.
“Our strategic developments over the last few years mean that 32 per cent of our group revenue now comes from our continental European networks.
“While the profit is slightly down on the previous year it is in line with expectation. Our established businesses showed significant profit growth during the year and these results demonstrate our ongoing strategic investment in our German domestic operations and in the pan-European network, operated by Palletways Europe.”
Ms Hundleby said the group remained cautious due to the challenging economic climate and the situation in the eurozone, but said she was “excited about the potential of all our investments”.
She added: “Our new German network gives Palletways the opportunity to provide services to customers in Europe’s largest logistics market.”