Unipart Group, Europe’s manufacturing, logistics and consultancy company, announced its financial results for the year ended December 31, 2015.
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Revenue grew by just over 10%. Group turnover, including joint ventures and associates, was £868.6m (£786.8m in 2014).
Total Group profit before interest, tax and exceptional items has gone up by 6%, from £26 million in 2014 to £27.5million in 2015. This included the Group’s share of profits from joint ventures and associates. The Group ended the year with a net cash balance of £7.1m. The company created over 360 jobs across its operations.
Commenting on the results, Unipart Chairman and Group Chief Executive John Neill said that the company’s long term strategy for continued productivity improvement was central to its growth.
“Last summer, the Chancellor of the Exchequer called low productivity ‘Britain’s key economic challenge’. In Unipart, we believe we have a solution to the productivity puzzle, we call it The Unipart Way,†he said.
“We have invested over 30 years in building our Unipart Way ecosystem. We are now creating new digital components to enable us to deploy the system with greater speed and agility on a global basis for our own operating companies and our clients.â€
Unipart has also made a significant investment in a national campaign to explain how to solve the productivity puzzle. The campaign included national press advertising, social media and high quality video documentaries featuring interviews with some of the UK’s top business leaders.
“The productivity campaign has been well received by political and business leaders. It will continue to raise the issue of the UK’s flagging productivity and demonstrate how The Unipart Way can help organisations of all kinds to address this issue,†said Neill.
During 2015, Unipart launched a joint venture with Rolls-Royce called MetLase Limited.
MetLase uses high precision, laser cutting technology, and patented assembly and joining systems, to enable engineers to produce prototypes rapidly. ■