Pallet-Track parent company northstarr celebrates record financial results and multi-million-pound growth

Technology-led logistics group northstarr is celebrating record financial results after announcing multi-million-pound growth in revenue and profits.

The parent company of pallet network Pallet-Track has increased profits by 20 per cent year-on-year, while also posting the highest EBITDA in the group’s history and delivering record levels of investment.

In the past year, Pallet-Track managed 4.3 million pallets, up 5.7 per cent on the previous year, and moved into its new Waterway Business Park Headquarters in Wolverhampton, as northstarr invested £10m across capital expenditure and acquisitions to support the group’s continued growth.

Results published today showed the group generated revenue of £167.4m for the year ended 31 December 2025, up from £150.7m in 2024, representing year-on-year growth of 11.1 per cent.

The group delivered profitable growth, with gross profit increasing by £5.6m, or 30 per cent, to £24.2m and gross margin rising to 14.4 per cent from 12.3 per cent in 2024.

Adjusted EBITDA increased by £3.3m, or 45.3 per cent year-on-year, to a record £10.8m. Operating profit increased by £1.1m, or 19.4 per cent, to £6.6m.

Total investment across the group grew six-fold to £10m, from £1.7m in 2024, spanning capital expenditure on the new Central Hub and IT systems alongside the acquisitions of flexible warehousing specialist Sqrrl Solutions and cloud-based transport management provider Truckcom.

The group portfolio has continued to expand in 2026 with the acquisition of 4PL transport operator X2 (UK) Ltd.

Group CEO Stuart Godman said: “These are an exceptionally strong set of results and ably demonstrate the growth trajectory across the northstarr group.

“Pallet-Track has once again produced outstanding results, delivering record volumes, growth and service excellence via our shareholder members, which truly makes it the pallet network of choice.

“That performance has been complemented by the strategic acquisitions of Sqrrl Solutions and Truckcom, followed by X2 in 2026, as we continue to build a broader logistics group capable of providing smarter, data-driven and more flexible supply chain solutions.

“Alongside the opening of northstarr’s new headquarters, these record levels of investment in diversification and infrastructure reflect our confidence in the long-term opportunity for the group and our commitment to future success and growth.

“Looking ahead, our strategy is clear and we remain confident about the group’s trading performance for the remainder of 2026 and beyond, even with industry costs rising and the general pressures of the wider UK economy.”