Unipart Announces 2012 Financial Results

Unipart Extends Its International Footprint and Invests in Manufacturing
  • Total Group Turnover in excess of £1bn.
  • Total Operating Profit grows from £8.4m to £28.8m
  • Sales from continuing operations up 3.2%
  • Increase in cash of £5.9 million
  • £30 million manufacturing investment
Unipart Group, one of Europe?s leading manufacturing, logistics and consulting businesses, has announced its financial results for the year ended 31st December 2012. Total Group turnover was £1,010.8m. Total operating profit grew from £8.4m to £28.8m. Sales from continuing operations grew from £967.3m to £998.4m.
The strategy to extend its global footprint saw the Group open its fifth logistics centre in China and its third distribution centre in India winning business with Toyota Kirloskar Motor and extending its relationship with TATA.
The Group is also extending its footprint in Australia with a successful commencement of a contract providing rail maintenance and supply services in partnership with United Group, complemented by a new logistics contract with Volvo and a consulting contract for the Group?s Unipart Expert Practices consulting division with leading Australian supermarket chain, Coles. New contracts were also won in the United States for Long Tall Sally alongside the services provided to Jaguar and ASOS.
Unipart International is growing the Group?s presence in Africa through its Intertruck business in Zambia and Kenya serving the aftermarket for commercial vehicles complementing its Dubai-based operation which services the Middle East and North Africa.
During the year, John Neill was appointed Chairman and Group Chief Executive following the retirement from the Board of Lord Sheppard of Didgemere, who had served as Non-Executive Chairman for sixteen years. Commenting on the results, John Neill said:
“The Group has learned over many years to turn adversity into opportunity, so despite the flat lining European economy, our investment over the last twenty years in the Unipart Way has provided us with a powerful way to help our existing and potential clients unlock new opportunities to grow and develop in these tough times.
“The expansion of our international operations, all of which have embarked on the journey to implement the Unipart Way and are doing it successfully, prove that our philosophy of working can be effective anywhere in the world and in any industry sector.
“More than twenty-five years ago we made a commitment to manufacturing in the UK and we strongly welcome the growing support for manufacturing by the Government and opinion formers.
“In 2012, we committed more than £30 million of investment to our advanced engineering facilities in Coventry developing next generation versions of existing products for our current customers, and completely new products which are world leaders in technology. This includes next generation engine fuel rails that will go on Ford’s newest engines for the global market.
“We are pleased to have received external accreditation for the work we do for our customers with our Oxford site being named Homebase Depot of the Year and our operations with Sky being awarded the European Supply Chain Excellence Award for Environmental Improvement. Our technology services site in Nuneaton was named Best Service and Repair Centre in the UK for the second year running, and our operations were rated as „best in the world? in several benchmarking studies by customers.
“For a third year running, Unipart has retained its platinum status in the Business in the Community?s 2012 Corporate Responsibility Index. This achievement rates Unipart amongst the top companies in the world for best environmental, community, workplace and business practices. A number of Unipart sites also won top ratings for Health and Safety performance and for Environmental Management excellence. The Cowley Distribution Centre in Oxford was one of only six organisations worldwide to achieve the double award for Health and Safety excellence in winning both the Sword of Honour and the Globe of Honour.”
John Neill concluded: “We expect 2013 to be another demanding and challenging year, particularly in Europe, and we will therefore re-double our efforts and focus on international markets.”