Unipart sees strong performance despite pandemic

Unipart logistics has seen a strong performance despite the impact of the Covid-19 pandemic.

Despite recent global challenges, the company’s  turnover is broadly in line with the previous year at £786.7m (2019: £799.2m), resulting in underlying Group profit before interest and taxation slightly lower than the previous year at £16.1m (2019: £17.8m).

Company profit before interest and taxation, defined benefit pensions, and other exceptional items, was lower than the previous year at £19.7m (2019: £27.3m), and Unipart ended the year with net cash of £21.6m (2019: net debt of £11.0m) putting the business in a strong liquid position to invest in future growth.

Despite unprecedented demand, in Unipart’s second year of managing the logistics operation for the NHS Supply Chain, overall performance levels increased across the network, with service levels to NHS Trusts being at a record high throughout the pandemic.

Furthermore, Unipart Logistics won a Supply Chain Excellence Award for successfully opening the new NHS Supply Chain Bury St Edmunds distribution centre on plan during the first national lockdown. Unipart’s use of digital twinning technology was a key element in enabling the site to open.

John Neill, Group Chairman, and Chief Executive at Unipart Logistics said: “Our profitable performance in the face of the biggest upheaval to the global economy in generations illustrates that Unipart remains a highly responsive and agile business with a strong basis to consolidate and grow in the future.

“Overall the business maintained strong performance throughout the uncertainties of the pandemic and the UK’s exit from the European Union, maintaining a strong cash reserve while continuing our commercial growth. With a tentative roadmap out of the pandemic now established, we look forward to leveraging our digital capability to further build on our future success.”