Whistl has cited major growth in its Doordrop Media division and parcels – as well as the closure of its loss-making final mile delivery operation – for reversing 2015’s £18.5m operating loss into a profit of £9.5m last year, despite a slight drop in turnover to £591.7m.
Chief executive Nick Wells highlighted the fact that although volumes in its core downstream access mail market had remained stable since 2011, there was still potential a five billion items a year – which do not go through Whistl – to vie for.
The company saw an 8.6% volume growth in parcels last year and is predicted this will expand into double figures during 2017. Since appointing a new top team to drive the division, Whistl has extending its launched next day tracked, business to business, and 48 hour services.
“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 Doordrop Media, parcels, and international services,” said Wells.
“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.”
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