PPF Plc. Announces Substantial Lift in Turnover to 89 million
PPF Plc. Announces Substantial Lift in Turnover to £89 million
PPF Plc., which trades as ADR Network, has announced a substantial lift in turnover. The turnover for 2012 was £89m, an increase of 38% on last year. This is the seventh year in succession that PPF has increased its turnover. The growth has been impressive with the business more than doubling its turnover since 2009 when sales were £40.9 million. ADR Network contributed 96.2% of turnover to PPF Plc. whilst TW Network – the industrial temp. specialist business unit, contributed 3.8%.
Profit before tax increased by 11% to £2.309m. Net profit was not in line with top line growth as a result of start-up costs and margin pressures generally in an increasingly competitive logistics market.
The business has reported success in winning new business which included a contract with a major national retailer.
Service levels were enhanced through substantial investment in IT and by opening new offices in Northampton, Nuneaton and Warrington. This development activity has inevitably suppressed profit levels but was an essential component of the strategic plans of the business.
Despite the operational demands posed by the Jubilee and the & lsquo;summer of sport’ the business was able to maintain a fulfillment percentage of 99% or above on all contracts.
PPF MD Andrew Waldron sees this operational ability as central to the strategy of the business going forward.
“Our success comes from a culture where operational effectiveness and service levels are at the heart of everything we do. Despite tough operating conditions our clients have confidence in our ability to supply. In a market where drivers are scarce this operational confidence has helped us grow through recommendation as opposed to aggressive selling.”
PPF also announced that it is looking at the coming year as being one of consolidation and somewhat slower growth as it focuses on activities to address the driver supply side of its business. Waldron commented further. “We have experienced a period of rapid growth at a time when there is a dangerously under-supplied driver community. We will be focusing on training our own drivers and have plans to open several schools across the UK. The first of these is in operation and we have our first group of drivers who have successfully completed their training. This is a major commitment but is indicative of our move to address the driver supply issue.”