Strategic and operational highlights

  • Landmark agreement signed with Morrisons to provide technology and operating services, with Morrisons.com launched in January 2014
  • Industry leading service levels improved further with on time deliveries 95.2% and order accuracy 99.0%
  • Range extended to 34,000 SKUs
  • Active customers increased to over 385,000
  • Average baskets increased to £113.53
  • Improved Hatfield CFC ("CFC1") productivity to 135 units per hour ("UPH")
  • Delivery performance improved to 160 deliveries per van per week ("DPV")
  • CFC2 opened on time and on budget, generating over 60,000 orders per week ("OPW") by the end of the period

On time or early

%

On Time or Early

Average basket size

£

Average Basket

CFC efficiency (CFC1)

UPH

CFC Efficiency

Service delivery

DPV

Service Delivery

Financial highlights

  • Gross sales (Group) up 18.6% to £852.5m
  • Gross sales (Retail) up 17.2% to £843.0m
  • Revenue up 18.8% to £792.1m
  • EBITDA up 35.1% to £45.8m
  • Loss before tax and exceptional items of £5.1m (2012: profit of £1.8m)
  • Balance sheet transformed following sale and leaseback of CFC2 real estate and equipment with net assets of £202.4m

Gross sales (Group)

£m

Gross Sales Group

Gross sales (Retail)

£m

Gross Sales Retail

EBITDA

£m

Ebitda

Net assets

£m

Net Assets

Notes

  1. 2012 was a 53 week accounting period. 2012 comparable figures based on 52 weeks to 2 December 2012.