Logistics
specialist, iForce has reported a healthy leap into profit for the financial
year ending June 2014 in its best ever year
with an EBITDA of £1.7m and year on year revenue growth of 30per cent. iForce focuses on omni-channel
fulfilment, multi-channel reverse logistics, stock remarketing and carriage
management services. Existing clients include John Lewis, Tesco,
Waitrose, Cath Kidston, Fortnum and Mason, John Lewis, Paperchase, Sainsbury’s,
Screwfix, and more. New business commenced during the year for companies
such as Dunelm Mill, Hush and World Stores.
New CEO Brian Gaunt
joined the group in August 2013, appointing Ian Horsfall as Finance Director
shortly thereafter. Together they have driven the commercial and financial
performance of the business with a new focus on growing the business through
new and organic sales opportunities, an improved focus on customer service and
operational efficiencies.
“2014 was a
successful period for the Group in which we experienced high volume growth
driven by new sales and organic development of our existing client base. This
allied with a drive to make the business more operationally efficient has
allowed us to move into profit for the first time.The
desire of many businesses to partner with iForce, a company that has tried and
trusted software capability allied with a long operational heritage in
multi-channel operations, continues to drive both our revenue and our profit.
We believe that our multi-channel systems are unique and we had sufficient
faith in them to invest during 13/14 a substantial capital sum into the
development of our carriage management software to establish it as a SAAS
product. This is now being marketed into what was essentially a monopolistic
marketplace under the brand Route Genie. We believe that the prospects
for the core business look good and the addition of commercial software sales
add to a bright future outlook for the business,”
commented iForce CEO Brian Gaunt.
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