Exertis sees profits increase

Exertis’ profits have increased over the course of a year as demand fell.

The distributor has posted its financial results for the year ending 31 March 2022, saying it had revenues of £4.6 billion which was up 3.6 percent increase from the year before. Operating profit was  £81.7 million up 12.8 percent from the previous 12 months.

Exertis said its growth was driven by contributions from acquisitions completed during the year, with strong performance being seen in North America.

The UK business experienced a “significant level of supply constraints and reduced demand for consumer products as the pandemic eased”.

Although now operating effectively, the business was also impacted during the year by the implementation of a new warehouse management system.

These factors contributed to a decline in revenue and operating profit in the UK for the year, Exertis said.