Unipart experiences strong growth with revenues exceeding £1bn
Profits have significantly recovered after a year of significant growth and expansion
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Underlying revenue increased by 14.2% to exceed £1bn for the first time
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Profits recover and exceed pre-COVID-19 levels
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Strong cash position at the end of the fiscal year with minimal borrowings
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Continuing high safety and environmental performance
oxford, england, April 9, 2024 /CNW/ — Unipart, a supply chain solutions and performance improvement technology partner, is pleased to announce strong growth and expansion in 2023.
Group turnover increased to £1,047.9m (2022: £917.3m) and Group underlying profit before interest and tax was £21.7m (2022: £12.2m). Unipart's international region delivered strong profit growth and the UK business showed solid progress over his 2022.
Darren LeeUnipart Chief Executive Officer“We are proud of the progress we have made towards accelerating our growth in 2023. It has been a strong year for us, with sales exceeding £1 billion and significantly stronger profitability.” Stated.
“In the face of continued market headwinds and external disruptions to global supply chains, Unipart's supply chain solutions and performance-enhancing technologies are needed by our customers now more than ever. We would like to thank our colleagues for their dedication and hard work, and our customers and partners for their continued support and commitment.
“With a clear growth strategy across our seven core market sectors, a strong order book and a talented and dedicated team of professionals, we are confident in our outlook for 2024 and our next chapter of growth.
“This is an exciting year for Unipart. We celebrate the 50th anniversary of the Unipart brand. Much has changed over the past half century, but today we have more than 12,000 people operating in 21 countries. We stand as a diversified business of colleagues, and what has never changed will always remain the same.'' At Unipart's core is our commitment to serving our customers better than anyone else. ”
John NealUnipart Executive Committee Chairman“This year we celebrate our 50th anniversary.”th Anniversary of the Unipart brand and the guiding philosophy established in 1974: “To understand the real and perceived needs of our customers better than anyone else, and to provide them with better service than anyone else.” Living by this philosophy allows us to continually reinvent our business for the future, and it's more important than ever that we continue to do so.
“To be able to create innovative products, services and solutions for us and our customers, because we need to continue to grow in a more rapidly changing world that is in some ways difficult to adjust to. , we have had and will continue to adopt a number of generative AI tools.Darren's personal commitment to the philosophy and clear commitment to the Unipart Way, which continues to be a source of our competitive advantage. We were very encouraged by this.
“Unipart is a pioneer in stakeholder management philosophy. uk And we would like to thank all our stakeholders, especially our customers and fellow employees, for their involvement, support and commitment. ”
contact: Alistair Drummond
alistair.drummond@unipart.com
Phone: 01865 383068
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