Strong sales growth continues at DRL
ONLINE white goods retailer DRL Holdings has continued to see rapid sales growth with turnover rising by 42% to £126.7m.
Newly-filed accounts for the year to March show the Bolton company, which runs appliancesonline.co.uk and delivers for other major retailers, has enjoyed a four-year run of sales growth since reporting turnover of £24m in 2006.
Pre-tax profits were £1m, up from a loss of £106,000 last time. After stripping out exceptionals it made £3.1m against £499,840 in 2008-09.
A one-off cost of £2.1m related to legal action the firm’s DRL Ltd subsidiary took against a former supplier. It received an interim judgement in September and is continuing to pursue the claim but decided to set a provision in the accounts that, “may no longer be recoverable”.
The directors, led by managing director John Roberts, said they had continued to invest in operational and system improvements that have made its deliveries faster and more efficient.
In June DRL also acquired Manchester-based Expert Logistics for £500,000 in cash which was carrying out deliveries for the firm.
During the year the business also secured contracts with Argos and B&Q to deliver goods on their behalf. The company employed an average of 395 staff during the year. No one at the company was available for comment.
