Transport software firm Microlise reported that its annual core earnings surged by more than a third as a shortage of truck drivers in the UK and cost pressures forced the industry to try to become more efficient.
Britain’s departure from the European Union, the COVID-19 pandemic and a shortage of drivers has strained supply chains across the country, making the efficient management of fleets increasingly important, especially when driver wages are rising.
Microlise Chief Executive Nadeem Raza told Reuters that customers were under pressure to deliver more orders without increasing costs.
“They are going to look at other ways of saving money within their operations as they don’t want to pass on those costs to their customers,” he said.
Microlise said earnings before interest, taxes, depreciation and amortisation jumped 37 percent to 7.6 million pounds ($10.4 million) in the 12 months to the end of June.
Revenue of Microlise rose 14 percent to 57 million pounds.
Microlise analyses fleet and driver data to help clients improve output and save fuel.
Microlise added 50 new customers in the year, with strong demand for its services as Britain grapples with an acute shortage of heavy goods vehicle drivers that has most recently left fuel stations running dry.
Microlise, which also helps customers comply with stricter environmental regulation, now has over 400 clients.