PPF Group. Announces Substantial Lift in Turnover to £89m
PPF Group. 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 Group. 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.
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.
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.”