Trading & Financial Performance - Tuffnells Parcel Express

Trading & Financial Performance

2010, as with 2009, was another extremely difficult year presenting many challenges - the Group trading against a struggling economic environment and in a sector witnessing increasing price sensitivities. Nevertheless, the Group saw the full year benefit of the cost saving initiatives undertaken in 2009 and increased it's volumes by 8% year on year and revenues by 7.8% - which enabled Group operating profits to grow from £6.1m to £7.8m ; and this despite the atrocious weather experienced during December 2010.

During 2010 we successfully rolled out our electronic proof of delivery system and remain committed to significant investment in both our fleet and IT infrastructure.

At the same time we have remained focussed on de-leveraging with 2010 seeing in excess of £5.0m of debt being repaid; during 2011 we aim to retain the focus and if possible accelerate the reduction in debt and position the company to take advantage as the economy starts to grow again.

Lloyd Dunn, Managing Director

Financial Statements

Tuffnells Parcels Express Limited.pdf
The Big Green Parcel Holding Company Limited.pdf