A combination of organic growth in its same-day distribution business and the acquisition of six companies last year helped courier firm CitySprint increase its turnover.
Turnover rose 11.4% to £112.6m for the year ended 31 December 2013 (2012: £101.1m), which it attributed to growth in its core same-day business and making “selective acquisitions”, including Dash-It, Bullit Couriers and Heathrow Baggage Services.
Its earnings before interest, tax, depreciation and amortisation (EBITDA) increased 15.4% from £10.6m to £12.2m in the same period due to investing in technology, improving brand awareness and improving operational efficiency.
The company now hopes to see a larger increase in profit this year by targeting organic growth and investing in technology and staff.
The firm also revealed that it is seeing more volume in its parts distribution business, especially from car manufacturers.
It also expects to increase its presence in the b2c delivery market this year as it receives more demand from retailers.
CEO Patrick Gallagher said: “2013 produced a very strong operational performance across all our market segments. Trading since the start of the year has been very strong across all of our sectors.
“CitySprint is in an excellent position to benefit from increasing demand as we continue to see high levels of activity in each of our core operations of logistics, healthcare and retail,” he added.
CitySprint continued its acquisition spree earlier this year, striking a deal with Birmingham-based Network Logistics UK.
