LOGISTICS company John G Russell has lifted its profits to £5.4 million in the year ended March 1 from £4.7m the previous year, new accounts show.

Directors put the increase down to its “focus on asset utilisation”, according to accounts at Companies House.

The Hillington-based company, which has interests in road and rail transport, bonded and general warehousing, increased from £61.1m to £68.1m.

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John G Russell, director, said: “Our principal business strategy remains the achievement of a consistently high quality, robust, sustainable and cost-effective logistics service to UK industry and the development of mutually beneficial long-term business partnerships.

“A focus on new business development supported by a philosophy of innovation as a means of achieving long-term prosperity, is an essential part of this strategy.”

Group wages rose to £20.6m against £18m with staff up to 649 from 598. Directors remuneration sat at £777,569 against £797,118. The highest paid director received £138,276 this year, against £150,171 last year.

Mr Russell added: “Asset investment was £4.6m against £6.9m, [with the] reduction primarily driven by the significant investment in the Cumbernauld warehouse in prior year for which there is no current equivalent.”