ENCOURAGING TRADING SAW REVENUE INCREASE BY £11.3M TO £603.0M (2016: £591.7M) INCLUDING STRONG GAINS IN THE GROWTH AREAS OF PARCELS AND INTERNATIONAL OF 10% AND 31% RESPECTIVELY, UNDERPINNED BY A ROBUST PERFORMANCE IN CORE DOWNSTREAM ACCESS.
THE GROUP IS IN A VERY STRONG FINANCIAL POSITION WITH NET ASSETS RISING FROM £10.3M TO £16.2M AND CASH RESERVES INCREASING TO £37.1M (2016: £22.9M) . CASH INFLOW FROM OPERATING ACTIVITIES GREW TO £19.9M (2016: £11.8M) .
OUR NEW PURPOSE BUILT SUPER DEPOT IN BOLTON WHICH OPENED IN JULY, CONTINUES OUR AMBITIOUS INVESTMENT PROGRAMME AND WE COMMENCED THE CONSTRUCTION OF A PARCEL SORTATION SYSTEM WHICH WILL BE COMMISSIONED IN 2018.
WE ACQUIRED THE FULFILMENT BUSINESS, PRISM DM TO GROW OUR PRESENCE IN THE E-COMMERCE MARKET AND BROADEN THE RANGE OF SERVICES WE CAN OFFER TO OUR CUSTOMERS.
OVERALL CAPITAL EXPENDITURE INCREASED 7% TO £4.3M ADDING GROWTH CAPACITY AND IMPROVING EFFICIENCY.
WE HAVE A SUBSTANTIAL, FULLY COMMITTED BANK FACILITY OF £65M THAT REMAINS UNUTILISED.
THE GROUP MARKED A SIGNIFICANT MILESTONE IN THE YEAR, ON THE 2ND ANNIVERSARY OF THE MANAGEMENT BUYOUT, BY DECLARING A DIVIDEND OF £1.5M (2016: NIL) .
Financial highlights | Whistl Annual Report 2017
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