Yorkshire based Potter Group Logistics has posted a set of strong financial results for the year ending April 2012. With increased turnover across all areas of the business, the company continues to show profitable growth backed by a solid financial structure.
This is the fourth year in a row that the Yorkshire based logistics, waste management and property specialist has delivered improved profits. The business posted a profit before tax (PBT) of £1,035,000 – an increase of some 27% over 2011 (£817,000). Turnover was also up by 2.8% to £15.2m (£14.7m in 2011) and the balance sheet remains strong with net assets of £32.2m.
Matthew Lamb, managing director of Potter Group Logistics, explains the company’s success despite the continued difficult trading conditions: "As always, our focus is on delivering first class customer service. We have achieved this whilst applying rigorous controls on overheads across all areas of the business. The management team has ensured that our six distribution centres (DCs) have been run efficiently by maximising the use of buildings and vehicles to give our customers the most cost effective service.
"Not only have we employed stringent financial controls to achieve these margins, but also our sales team has worked hard to increase business with both existing customers and new contract wins. September 2011 saw us begin a five year agreement with chemical giant Johnson Matthey and we were also awarded a two year contract extension with Elanco, the animal health division of Eli Lilly.
"Both these prestigious contracts are for the storage and transportation of regulated products, demonstrating that our consistent commitment to excellence in this industry sector continues to be the right fit for our customers.
"In April this year we began preparations to achieve the BRC Global Standard accreditation for the storage and distribution of ambient foods at our Selby DC. Subsequently, following a meticulous assessment, we were awarded this valuable certification.
"In May this year, the business accomplished another major milestone when it acquired the York based haulier, House of James. This deal has given us a significant increase in turnover, another DC in Yorkshire and access to the Palletline pallet network which adds a new dimension to our service offering.
"To support the investment in our services and infrastructure, we made a strategic decision to increase our commercial presence with a strong investment in marketing. At the beginning of the year we partnered with a new marketing company and together we have developed a long-term plan designed to drive the business forward over the next five to ten years.
"Part of the strategy is the development of a new corporate identity which we will be revealing in the next few months. Designed to present a confident, professional face, it keeps faith with the heritage of the company whilst giving it a fresh, modern look and feel.
"All in all it has been a strong performance from our entire team and this has given us the confidence to approach 2012/13 with real belief and optimism about the challenges ahead. With new business prospects in the pipeline, a strong financial base and continued hard work from the team, Potter Group Logistics is on course to achieve the pragmatic goals we have set for this financial year," concludes Lamb.