Record year creates £10m dividend at Tuffnells

SHEFFIELD distribution business Tuffnells Parcels Express enjoyed a leap in revenues in the year which ended with its takeover by Connect Group, its latest accounts show.

It was another record year for the parcel delivery company which enabled it to increase its dividend by one-quarter to £10m.

Tuffnells’ managing director Lloyd Dunn said “With the underlying economic environment continuing to improve throughout 2014, Tuffnells continued the success achieved in 2013, again posting a record financial performance.”

The group, which has 800 vehicles operating from 34 depots across the country, drove pre-tax profits up 28% to £13.3m as revenues grew 12% to £143.6m in 2014. It also increased its workforce by 300 people to 2,300.

On December 19 2014 the £113.4m takeover of Tuffnells Parcels Express parent company The Big Green Parcel Holding Company by Connect Group was confirmed.

The company continues to grow and having adding three depots in 2014 is planning to add three more this year.