Europa Worldwide Group has completed two years of complex restructuring, according to managing director Andrew Baxter, who acquired the business in August 2013.
The company saw sales rise nine per cent in 2014 but profits fell to £237,000 as a direct result of the restructuring costs.
“Now that these short term costs are behind us we are seeing a strong recovery in profitability,” said Baxter.
The restructuring of Europa involved the development of a £30m logistics facility of 26,368 sq m. The company focused on expanding its UK presence, and also reorganizing road freight sales and customer services functions.
As well as this, the company employed a fifth of its workforce in 2014 and opened two branches in Nottingham and Leeds.
