UK-based delivery firm Whistl has announced its first full year results following the management buyout (MBO) of the company in 2015.
Highlights of 2016 include an improvement in profitability of £9.6m (US$12m) and earnings before interest, tax, depreciation and amortization (EBITDA) of £13.6m (US$17.1m); progress in all three areas of growth within the business including an 8.6% increase in parcel volumes, 19.7% increase in Doordrop Media and 30.2% increase in international volumes; a 118% improvement in underlying operating profit; a rise in net assets from £6.4m (US$8m) to £13.7m (US$17.2m); and an increase in capital expenditure of 43.5% when compared with 2015.
Nick Wells, CEO of Whistl, said, “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 Q1/2017 and continued investment in the business, including our new super depot in Bolton, we expect Whistl to continue to deliver excellent growth.”
March 27, 2017
