Europa Worldwide – 16.5% turnover growth

UK and international logistics operator Europa Worldwide Group has shown a 16.5% growth in turnover for the year end 31 December 2019.

Turnover grew from £176 million in 2018 to £205 million last year. Profits didn’t grow as quickly, with net profit before take growing to £6 million in 2019 from £5.2 million in 2018.

Net assets for the company have grown by a third to £12.8 million with its new £60 million, future proofed 3PL logistics facility in Corby, Northants and another new unit.

Finance Director at Europa Worldwide Group Adam McBride said: “The 2019 results are our best yet and show a really positive, solid year of growth for our business across all divisions. This has enabled us to continue investing throughout the business and across teams, which will allow us to continue this fantastic growth and meet any challenges head on.

“2019 saw us add two more sites to the group as well as increase the headcount to support the progression of the business, so we are happy with the figures.”

Managing Director at Europa Worldwide Group Andrew Baxter added that while the previous year was good his primary focus now is surviving the pandemic and its economic disruption.

Baxter commented “The growth in 2019 was a result of the great team we have as well as our continued dedication to providing the best, most efficient services for our customers. This enabled us to win new business across the divisions and I am very proud of what we have achieved.”

He said: “From March onwards we like every other business were hit by the effects of the coronavirus pandemic but I believe we have weathered the worst of it pretty much intact, as well as opening our new Corby site on schedule which is a massive success. Our ongoing investment in technology has certainly paid dividends this year.

“I am really happy with the results from 2019. We anticipate that this year will be a different picture with limited or modest growth due to the pandemic, but we are highly optimistic for 2021 and march on towards our target of achieving £400 million turnover.”