Wednesday, July 15, 2020

Record turnover & profit for indie logistics operator

An independent logistics operator with a Sheffield branch has reported record turnover and profit as it unveils it annual results.

Turnover for the year ending 31 December 2018 rose 25% on the previous year to reach £180 million, Europa Worldwide Group reported.

Net profits rose 62% to £5.2 million, while net assets increased to £11 million.

The Sheffield sales office has more than doubled its employment, turnover and gross profit figures, growing by 133% in the ten months it has been running.

The company said it selected Sheffield as the preferred location for a new Road sales branch to expand opportunities to provide collection and distribution requirements across the South Yorkshire region.

Organic growth within the business is running at 20%, boosted in 2018 with new business wins across the three largest trading entities – Road, Warehouse and Air & Sea – supplemented by the June 2018 acquisition of Continental Cargo Carriers.

The specialist full and part-load operator is one of the biggest players on the roll-on roll-off market between Europe and the UK, reporting annualised turnover of £20 million.

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