Exertis has posted another “strong year” recording a 16.3 per cent jump in operating profits to £47.8 million.
The leading distributor also hit the £3 billion milestone in revenue for its 2018 financial year ending March 31. Market share gains in the audio visual, gaming and components spaces drove the latest figures.
Exertis made two acquisitions in the financial year spending £32.9 million. The buys were reverse logistics specialist MTR in July 2017 and technology distributor Hypertec in March.
On the back of purchasing MTR, the company began a push in its services business for it to rake in 20 per cent of overall profits by 2020. In 2017 services accounted for six per cent of profits.
Exertis’ £45 million, 433,946 square feet warehouse located at the Burnley Bridge Business Park, in Lancashire became operational last month.
The warehouse is more than the size of five full size football pitches – with an additional 200,000 square foot of space at the rear to expand the premises in the future. Speaking to Mobile News, jubilant Exertis UK and Ireland managing director Gerry O’Keefe said: “It’s great to hit over £3 billion in revenue but I’m more proud of our return on capital and operating profit.
It’s a hell of a story if you go back to 2007 where revenue was £1 billion. We’ve achieved threefold growth since then posting an all-round strong year here at Exertis.
Parent firm DCC which also holds firms in oil and healthcare, also saw big revenue increase by 16.3 per cent year-on-year to £14.3bn. The figure excludes subsidiary DCC Environmental which was sold in 2017.