DHL Supply Chain raised pre-tax profit by almost 125% last year, accounts filed at Companies House have shown.
In the year to the end of December, the firm grew its turnover by 7.3% to £4.13bn (2013: £3.85bn), with pre-tax profit rising 124% to £91.6m (2013: £40.9m).
However, the result left DHL Supply Chain with a relatively typical industry profit margin of 2.2%, albeit an jump on 1.06% in 2013.
Nobody from DHL Supply Chain was available for comment at the time of writing but in their financial report, the company’s directors said the underlying business performance had been “strong”, especially in the retail, automotive and life sciences markets.
They declared themselves “satisfied with the position of the company at the year-end”.
Tradeteam
Separately, fellow group company and drinks logistics specialist Tradeteam reported a 7% fall in turnover during the same period to £131.6m (2013: £141.5m), while pre-tax profit fell 85% to £5.6m (2013: £33.6m).
The 2013 figures included a £24m early termination payment from Molson Coors in the year to the end of 2013.
Elsewhere in the group, DHL Services – which supplies employee services to DHL Supply Chain and other group companies including Exel UK - reported a 7.8% increase in turnover to £1.34bn (2013: £1.24bn), with a near four-fold increase in pre-tax profit to £17.9m (2013: £4.7m); while DHL Freight and Contract Logistics (UK), whose customers and contracts were gradually being transferred to DHL Supply Chain, is shown on Companies House records as having ceased to trade.
