Bibby Distribution has reported “strong growth” in its 2008 annual results, with a 3.3 per cent rise in sales and a four per cent increase in operating profit compared to 2007.
This puts the company’s average annual growth at 12 per cent per year for the last five years.
Bibby chief executive Iain Speak reckons the company has obtained the results due to its diversified customer base, and an “unswerving” embrace of change.
He said: “Being part of the Bibby Line Group puts us in a stronger position than many others, allowing us to take the long-term view to guarantee future success for both our own business and those of our customers.
“While some firms are struggling due to the recession, we are fortunate enough to have a diverse customer base, with some sectors such as food and drink performing particularly well.”
Bibby also attributes the pattern of continued growth to the “devolution of decision-making powers to its management teams”.
By giving managers the opportunity to make local decisions at a local level, the company believes its ability to adapt to change has become stronger, and this has also strengthened relationships with clients who benefit from the added flexibility.
Speak said: “We are confident that we will continue to grow in spite of and because of the fluctuations in the market. We are already ahead of budgets for this year and believe that, through organic growth and strategic acquisition, we will be reporting even stronger results this time next year.
“Of course, the most important consideration for our business is to continue to work with and support our customers to ensure they remain profitable and strong throughout these difficult times and to evolve as needs demand. We have to continually deliver value.”
