UK Midlands-based freight forwarder reports 63% rise in turnover and accelerated hiring last year, with further significant growth in 2022

UK Midlands-based freight forwarder Baxter Freight has announced a record set of results and plans to expand its staff levels by 60% this year.

Announcing its 2021 year-end results, the company reported a 63% rise in turnover from £19m in 2020 to £31m last year, celebrating a record post-tax profit of £1.3m, “significantly beating expectations”.

Reaching 100 employees for the first time in December 2021, Baxter Freight accelerated hiring last year, and expects to grow by another 60 by the end of 2022, the company said.

Managing director Peter Isler said: “We are delighted with our continued growth in what has been a transformational year for Baxter Freight. This was made possible by the dedication of our team, who have gone above and beyond to support our customers on this journey, working hard despite the complexities of Brexit and Covid-19.

“Alongside signing several multimillion-pound deals with household brands, we announced improved services for all transport modes, including becoming the UK sales partner for DHL Freight and for Gerlach Customs, plus gaining our IATA accreditation for our fast-growing air freight division.”

Continued growth

It said the first quarter of 2022 had also “brought elevated success, with turnover up 40% on Q1 2021, and the number of consignments up 55%. With an organisational restructure allowing closer relationship management to support both large and small accounts, the business has thrived.”

Baxter Freight expects turnover to be around £42m for 2022.

Reinvestment plans

The company said it was reinvesting its profits back into the business, including both a digital transformation project, and developing the people it employs.

Lorraine Sutcliffe, HR Director, said: “We’re on an exciting journey with recruitment, expanding across all our teams, and promoting our experienced people to create layers of support throughout the business. As we aim to recruit a net increase of 60 people by the end of the year, taking us to 160 employees, it’s important we reinvest in our people, through a variety of ways from training schemes to wellbeing support. By putting the effort in now, we’re in a great place to become recognised as one of Nottingham’s best employers.”

By Will Waters