Newry-based shipping firm Motis enjoyed a record-breaking last trading year on the back of increased services on freight ferries, rail and road to companies throughout the UK, Ireland and Europe.
Its revenues in the 12 months to last June lifted by a whopping 34%, from £40.8 million to £54.6 million, according to accounts filed at Companies House.
Its operating profit tripled from £487,000 to £1.6 million, and on a bottom-line basis its retained profit soared from £260,000 to £883,000.
Motis is a private company founded 22 years ago by friends David McComb (57) and Patrick Hutley (54), who remain directors along with Paul King (55) and Christopher Polwart (48).
The company, which operates across 500 freight ferry routes and serves more than 2,000 customers across Europe, has 59 staff on its books (four more than the previous year).
Its wages bill stands at £4.1m, and the directors were paid a combined £1.3m, with the highest of them receiving £368,667.
During the year Motis had to write off more than £1.1m after a review was performed on the recoverability of debtor balances held, and it was determined that some could not be recovered.
The directors say they consider the results for the year to be “satisfactory” given the competitive marketplace in which it operates.
They say Motis meets its day-to-day working capital requirements through a short-term debt facility of £4.5m for invoice discounting with Close Brothers.
In addition to its Newry headquarters, Motis has offices in Stoke-on-Trent in England and others in Prague, Czech Republic; Poznan, Poland, Vilnius, Lithuania; and Bucharest, Romania.