Newly published accounts show the Hull-based parent group J R Rix & Sons saw a significant fall in revenues from £453 million in 2014 to £358m in the year to December 31.
Pre-tax profits for the group – whose various operations span car sales to caravans, shipping and marine bunkering – came in at £5.13m, slightly lower than the £5.89m achieved in the previous year.
Separate filings for the company’s Scottish shipping operation show the unit produced revenues of £1.59m in 2015 and returned a pre-tax profit of £442,244, an improvement on the £351,133 of a year earlier.
In the latter part of the year, the group signed off on a £1m investment in new state-of-the-art warehousing facilities at its 50-year-old site at Montrose.
The development was in response to increasing levels of investment in the Angus town and a significant uplift in cargo volumes at the redeveloped port.
In his strategic report to the accounts, director David Evans said the group had made “steady progress” during the year, with the decline in revenues put down to the impact the lower oil price was having on its marine bunkering and petroleum distribution businesses.
However, he said demand remained strong for warehousing at the group’s heavily redeveloped site at Montrose.
In addition to warehousing, the Angus-based operation offers fuel bunkering, crane and forklift services and a range of support services to the renewbles and offshore industries.
“Shipping is responsible for the management of the group’s shipping vessels together with stevedoring operations in both Hull and Montrose,” Mr Evans said.
“The principle activities continue to be the management of the wind farm work boats, tanker and barge fleets along with the operation of the shipping terminals in Hull and Montrose.
“In 2015 there was a decrease in both turnover and profitability.
“The season for crew transfer vessels was slow to start and rates were lower than expected.
“In Montrose, the company continues to redevelop its facilities and demand for warehousing remains strong.”
James Doyle, managing director of Rix Shipping (Scotland), yesterday said investment at Montrose had continued in to 2016.
The company is shortly expecting to complete a further £2 million warehousing development on a site in the town’s Barrack Road and is confident it will help to deliver further growth.
“We have had a pretty robust performance this year,” Mr Doyle said.
“We continue to develop the property portfolio and have invested more money into a 14,000 square feet bulk warehouse and we continue to grow.
“Business volumes are up on last year and we have contracts in place going forward into 2017 which will deliver further growth.”
Rix Shipping (Scotland) Limited
Rix Shipping Scotland can offer an exceptional range of services and facilities within and around the Port of Montrose. From secure warehousing, stevedoring, crane and forklift hire, to fuel bunkering, crew transfer vessels and Ships agency services.
