Andy Connor, Managing Director of Hellmann Worldwide Logistics’ UK announced that all products in the UK division of the family-owned German logistics provider are trading in line with their respective budgets for 2016. This follows a significant improvement to financial results when comparing 2015 to 2014.
Whilst actual turnover in 2015 remained at similar levels to 2014, operating profit in all products improved significantly, benefitting from the full implementation of various initiatives to improve processes, operating procedures and procurement.
The Sea Freight division increased its operating profit by over 100% and European Road Freight reported bottom line improvements in excess of 30%. So far in 2016, the consolidated operating profit is 8% ahead of budget and ahead of the financial results for 2015.
Whilst the full effects of Brexit still remain unknown, Hellmann UK is well positioned to cope with the inevitable challenges ahead. Currency risks continue to prove challenging, especially with the after-effects on trading due to Sterling’s devaluation in wake of the Brexit vote. The UK’s decision to leave the EU saw Sterling slump to a 31-year low against the dollar and the Euro drop from £1.30 to €1.00 on the day of the referendum to £1.17 to €1.00.
Andy Connor went on to comment: “despite the period of uncertainty that Brexit has created, Hellmann will continue to move forward with future development plans.” This includes an ambitious plan to expand the thriving Hellmann Account Manager graduate scheme in two new locations during 2017. Since its inception in November 2008, the scheme has grown from four members based at the UK headquarters in Lichfield to thirty in six UK branches.
2016, has already shown Hellmann UK’s clear intent to expand with the launch of a new state-of-the-art distribution centre in Daventry, Northamptonshire in May. This expansion of UK operations will enable Hellmann UK to fulfil the demands of new and existing clients, providing plenty of scope to enter new markets.
HELLMANN
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