- 27 March 2017
- Transport / Logistics Services
B2C delivery company Whistl has reported record profits in its first full year after the Management Buyout of the company in 2015.
For financial year 2016, the company recorded a profit of £9.6 million and an EBITDA of £13.6 million on a turnover of £592 million. Whistl saw a climb in volumes with Doordrop Media up 19.7%, a 30.7% jump in international volume and parcel volumes up 8.6%.
In a statement, Whistl said that its 118% improvement in underlying operating profit was “driven by a solid performance in mail, the three growth areas, together with efficient, high quality operational delivery and keenly focused cost management”.
The company also reported that it had increased capital expenditure by 43.5% over last year, with continuing investment in IT, operational infrastructure and back office systems to support its growth plans.
Whistl’s CEO Nick Wells commented: “Since the MBO, our strategy at Whistl has been underpinned by our core Downstream Access infrastructure and experience, and is supplemented with growth strategies for our Parcels, International and Doordrop Media services.
“Our strong financial performance in 2016 is based upon our commitment to cost efficiency and providing best in class account management, excellent quality and strong customer relationships.
“Supported by significant new customer wins in Q1/17 and continued investment in the business, including our new super depot in Bolton, we expect Whistl to continue to deliver excellent growth.”
Whistl is well placed to take advantage of the growth in e-commerce and B2C communications. Unlike rivals DX things look rosy for the company.
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