Europa Worldwide reports 2020 slump in profits


 

Europa Worldwide Group’s investment in its Corby 3PL warehouse, coupled with the effects of Covid 19, led to a 39% reduction in profits in 2020, its accounts showed. However, the logistics operator saw revenues rise by 2.5% to £210.7m in the year ending 31 December 2020. Pre-tax profit dropped to £3.7m during the period, but in its business review the company explained: “Profitability decreased in the year mainly due to Covid 19 and the Corby investment, which impacted the warehouse […]