One of Gloucestershire's most successful companies, CM Downton has reported a fall in profits for 2016-17 to £5.14million compared to £5.7million the previous year.

It has had to overcome a shortage of drivers, volatile oil prices and the general economic uncertainty following the Brexit vote.

Group turnover for 2016-17 was £116.84million, up from £111.62million the year before.

Based at Moreton Valence, Downton has grown to become a leading UK-wide operator for haulage contracting, storage and warehousing with bases all over the country.

The company's directors report says it is now focussing on improving efficiency within all areas of the business, use of fuel escalator agreements in all significant customer contracts and investment in the driver apprentice scheme and measures to improve driver retention.

Towards the end of last year the company had a number of contract wins which will contribute towards sales growth profitability in the next financial year.

In an interview with Motor Transport magazine, Downton's managing director Andy Downton said the 9 per cent fall in pre-tax profit to £5.1million in the year ended 30 June 2017 was symptomatic of increased driver costs and higher agency costs but that the business had the situation in hand.

Gloucester MP Richard Graham recently visited CM Downton's head office in Moreton Valence to discuss topics affecting the business in 2018, meeting with directors Andrew and Richard Downton and head of recruitment David Leleu. They discussed issues ranging from apprenticeships, driver shortages, roadside conditions and the concerns of drivers from outside the UK.

They also discussed the company's apprenticeship programme which provides excellent opportunities for young local men and women to build a successful career in a demanding industry. They also spoke about the implications of the apprenticeship levy introduced last year.

The company also raised the concerns of its drivers from Eastern Europe and other parts of the EU on how they will be affected by Brexit. Finally, the visit also provided an opportunity to discuss the UK's transport infrastructure and issues such as the state of the roads, tolls and other charges and how these can affect the business.

Richard Downton said: "We were pleased to welcome Richard to Moreton Valence and it was a great opportunity to discuss a wide range of issues with him and explain more about Downton's contribution to the local economy.

"Many of our employees live in his constituency and it's important for us to help their local MP understand the challenges our business faces now and in the future."

Pictured: (left to right): Richard Graham MP with Richard Downton and David Leleu of CM Downton