A freight forwarding business managed a 7% increase in revenues last year despite domestic income stalling after the EU referendum.

Priority Freight, which arranges haulage services for clients around the world, managed turnover of £52.2 million last year, buoyed by a surge in overseas income of 22% to £32.5 million.

However, it suffered an 11% fall in domestic revenues to £19.7 million, which it blamed partly on the Brexit vote.

Pre-tax profits fell 36% to £1.3 million, according to its latest accounts, as it incurred larger depreciation on its assets and increased operating lease rental costs.

Founded in 1996, the Dover-headquartered company, which employs about 150 people, has seven offices in four countries and began trading from its Spanish office in Madrid in May 2016.

The new site managed turnover of £2.3 million by the end of the year and is forecast to add £6 million turnover this year.

Managing director Neal Williams said: “The climate of uncertainty which arose due to the unexpected result from the Brexit vote meant that 2016 was potentially a challenging year of industry within the UK.

“The strength of Priority Freight’s growing international presence, however, continued to be exceptionally strong,” he added, “ensuring robust overall performance, despite subdued domestic sales, which arose partly as a result of the referendum result.

“The view of the directors is that Priority Freight’s global expansion plans, international recognition of the brand and the ability to adapt, will continue to minimise the risks and maximise opportunities that may arise from Brexit, regardless of the eventual outcome of the Brexit process.”