CCL Logistics & Technology is on track for record revenue in the current financial year and expects to complete two acquisitions in 2023. CCL, which employs 110 people across the UK, is forecasting approximately 20 per cent revenue growth as sales are set to hit around £35 million in the year to 31st December 2022, up from £29.5 million last year.
Earlier this year, CCL added sea freight tracking to its platform, myCCL, the company’s Transport Management System that provides container visibility and tracking, under former Google supply chain lead Tony Wringe, who joined the company last year as Chief Technology Officer. CCL’s platform now incorporates port-to-port GPS vessel tracking, and estimated time of arrival (ETA) data.
CCL Logistics & Technology CEO Callum Bastock said: “While the company was founded as a one-stop logistics company, we are now a fully-fledged logistics and technology group that specialises in helping customers reduce costs and grow, sustainably. The challenges faced by the sea freight industry meant our customers had less visibility, higher costs, and severe supply chain disruption. We are now able to help our customers track shipments and stock keeping units (SKU’s) in real time, something that just wasn’t available previously.”
CCL is currently investing around £2.5 million every year into its technology platform and has over 40 people working in its Innovation Centre in Bellshill. The company plans to build new product features, while continuing to invest in existing products including full multi-modal tracking, warehouse productivity solutions, customer delivery experience, and a supply chain CO2 emission calculator.
Callum Bastock added: “We work with hundreds of customers, who use CCL because we are a one-stop logistics provider that can help them save time, reduce costs, and improve business efficiency. By offering complete supply chain visibility, we have a product that is second to none in our target market, and we plan to continue our investment in our Transport Management System for years to come.”
The company expects to announce its next acquisition during the first half of 2023, one of two acquisitions planned next year. Calllum Bastock said: “Our next acquisition will give us an even greater footprint across the UK, strengthening our base and our overall proposition for customers.”
Commenting on recent sea freight rates, Callum Bastock said: “Shipping rates have collapsed, and pricing is returning to where it was pre-pandemic. This is best illustrated by shipping rates now matching where they were in 2020. So, a 40-foot container, the standard in the industry, is now around $2,000 compared to $20,000 during the pandemic.”
