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Europa turnover tops £200m in 2019

[ July 22, 2020   //   Chris ]

Europa Worldwide Group saw 16.5% growth in its results for the the year ending 31 December 2019, with turnover up £29m to a record £205 million. The groupage operator and forwarder said it had succeeded in achieving the target it set 12 months ago to exceed the £200million mark.

Net profit before tax increased to £6million from £5.2million in 2018.

Europa has just opened a £60million 715,000sq ft third party logistics facility in Corby (Northants), contributing to an increase in its net assets from £8.4m to £12.9m.

Investment by Europa in 2019 included the acquisition of part of the assets of Menzies at the start of the year, £250,000 in refitting its Birmingham and Brexit preparations, along with the Leonardo IT system.

Managing director Andrew Baxter (pictured) said that while he was pleased with the figures for last year, his focus is on driving the business through the impact of Covid-19, explaining: “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…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 £400m turnover.”

Tags: Europa