ADR Network Announces Full Year Results - Sales Reach 65 Million
ADR Network Announces Full Year Results - Sales Reach £65 Million
ADR Network, the UK’s largest specialist provider of LGV drivers, has announced results that show turnover for 2011 has reached £65 million, up £7.4million on the previous year.
The business saw increased costs as a result of a decisive move to offer full time contracts to drivers in response to changes in legislation however, profit margins were maintained at 3.2% of turnover, in what is a notoriously competitive sector.
ADR Network currently has some 26 operating sites across the UK and provides work for some 2,000 drivers per week.
Following its early move to offer full time contracts to drivers it now directly employs some 802 drivers.
The Board has announced substantial investment plans for the business in the coming year with a budgeted upgrade to its operational IT platform and has advanced plans to open a further 3 offices at sites across the Midlands. It also has plans to open two driver training schools.
Commenting on the results ADR Network MD Andrew Waldron said: “This is a highly credible performance in what continues to be a challenging market. We now believe that we are the largest specialist supplier of LGV drivers in the UK. Our operating margins remain tight, something we share with other businesses in the logistics sector however, with turnover up from £31.45 million in 2008 to £65 million today we are certainly moving in the right direction.”
When asked about the ability of the business to stimulate growth he said: “From the outset we have had a very strong ethic of being supportive to both the needs of drivers and customers. This has helped us foster something of an innovative approach to defining and then meeting customer needs. We were one of the first businesses to source drivers internationally and moved decisively to offer our drivers full time contracts of substance. Our focus is almost entirely operational which I believe has a knock on effect on service levels.
Being independent and sector specific we can focus on the operational needs of our clients and the aspirations of our drivers and are not constrained by the inertia that some corporate bodies can be hindered by. “