Europa Worldwide sees 16.5% growth
Europa Worldwide Group saw turnover rise 16.5%, and pre-tax profit rise 15.4%, in 2019 as it crossed the £200 million turnover mark for the first time.
Turnover at the 3PL rose from £176 million in 2018 to £205 million in 2019, while net pre-tax profit rose to £6 million from £5.2 million the year before.
The financial year ending 31 December 2019 was boosted by the February 2019 acquisition of some of the trade and assets of end-to-end fulfilment and warehouse management service Menzies Response an undisclosed sum.
The purchase included Menzies’ Rushden Northamptonshire warehouse and PCI compliant contact centre in Ashford, Kent.
It joined the Europa Warehousing division, one of six divisions at the business including Europa Road, Europa Air & Sea, Europa Showfreight, Europa Contact Centre and Continental Cargo Carriers.
Europa Worldwide Group managing director Andrew Baxter said: “The growth in 2019 was a result of the great team we have as well as our continued dedication to providing the best, most efficient services for our customers. This enabled us to win new business across the divisions and I am very proud of what we have achieved.
“From March onwards we like every other business were hit by the effects of the coronavirus pandemic but I believe we have weathered the worst of it pretty much intact, as well as opening our new Corby site on schedule which is a massive success. Our ongoing investment in technology has certainly paid dividends this year.”
Baxter said he anticipated that 2020 would see limited or modest growth due to the pandemic, but he was “highly optimistic” for 2021 and the “march on towards our target of achieving £400 million turnover”.
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