Europa: highly optimistic for 2021
Logistics operator Europa Worldwide Group has revealed its results for year-ending 31st December 2019, showing another 16.5% growth with a turnover of £205 million.
In 2019 Europa’s turnover increased from £176 million to £205 million – a £29 million increase – and net profit before tax increased to £6 million from £5.2 million in 2018.
The business, which has just opened a £60 million future proofed 715,000 sq ft state-of-the-art, 3pl logistics facility in Corby (Northants) has also reported an increase in its net assets, which now stand at £12.9 million compared to £8.4 million in the preceding financial year.
Finance Director at Europa Worldwide Group Adam McBride said: “The 2019 results are our best yet and show a really positive, solid year of growth for our business across all divisions. This has enabled us to continue investing throughout the business and across teams, which will allow us to continue this fantastic growth and meet any challenges head on.
“2019 saw us add two more sites to the group as well as increase the headcount to support the progression of the business, so we are happy with the figures.
Managing Director at Europa Worldwide Group Andrew Baxter added he was pleased with the figures for last year, but his focus is on driving the business successfully through the impact of Covid-19.
Andrew comments “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.”
Europa Worldwide Group has continued to operate all of its services, across all divisions as normal throughout the pandemic with staff, where possible, working remotely. The company refused to add Covid-19 surcharges to it services or reduce any of its operations.
He said: “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.
“I am really happy with the results from 2019. We anticipate that this year will be a different picture with limited or modest growth due to the pandemic, but we are highly optimistic for 2021 and march on towards our target of achieving £400 million turnover.”