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• The principal highlight of the year under
review was a £28.0m improvement in
Group profitability, compared to 2015,
which saw the closure of our Final Mile
delivery activities
• We saw great progress in all three areas
of growth within the business. Parcels
experienced an 8.6% increase in volume;
Doordrop Media grew by 19.7% and
international volume grew by 30.2%.
• The satisfying improvement in underlying
operating profit was driven by a solid
performance in Mail, the three growth
areas, together with efficient, high quality
operational delivery and keenly focused
cost management
• We are in a strong financial position with
net assets rising from £6.4m to £13.7m,
including cash reserves increasing to
£22.9m from £14.4m in 2015. There
was an increase of £13.2m in net cash
generated from operating activities,
compared to last year
• We have a substantial, fully committed,
four-year bank facility of £65m that
remains unutilised over the two previous
financial years
• We increased capital expenditure by
43.5% over last year, showing continued
investment in business efficiency
including in IT, operational infrastructure
and back office systems to support
growth in Parcels, International services
and Doordrop Media.
Strategic Report
|
Whistl Annual Report 2016
Highlights