Whistl turned 2015’s £18.5 million operating loss into a profit of £9.5 million last year despite a slight fall in turnover to £591.7 million, and it is now targeting the parcels market to drive growth.
According the company’s annual report, the improvement is, in part, a result of the closure of the loss-making final mile delivery operation, combined with growth in parcels, Doordrop Media and international.
Whistl is targeting parcels as a key driver of growth and is expecting double digit growth this year. In a review of the business, Chief executive Nick Wells pointed out that the company had seen 8.6 per cent volume growth in parcels last year. It has been extending its service offering including next day tracked, business to business, and 48 hour services.
Wells highlighted the fact that although volumes in the core market, downstream access mail, had remained stable since 2011, there were still five billion items a year which did not go through the Whistl service.
“Since the MBO, our strategy at Whistl has been underpinned by our core downstream access infrastructure and experience, and is supplemented with growth strategies for our Parcels, International and Doordrop Media services,” said Wells.
“Supported by significant new customer wins in Q1/17 and continued investment in the business, including our new super depot in Bolton, we expect Whistl to continue to deliver excellent growth.”