This month we have completed the build on our warehouse extension which will more than double the operating space. Our dedicated site totals 45,000 sq ft with further expansion capacity for the future.
This new space may last 18-24 months, will create new jobs and opportunities for existing staff and meets our objectives of growth and investment in infrastructure.
There is a lot of negative news coming from our industry in recent months with Grainger Games, Gameseek and now Games Centre not being able to make things work. I am conscious that this will have an adverse affect on existing companies in the industry so I want to talk about my company and our current position.
Xbite has been on a growth curve since 2004, and today we employ over 90 people and have significantly diversified our business into 10 categories. We used to be 100% reliant on video games but today that represents just under 50% of our income. Last year our turnover reached £38m and this year it will be slightly less but with a significant increase in margin. This year to date (From July 2017) our trading profit is just over £1m - This represents 50% increase comparing 10 months to the previous financial year of 12 months.
How are we achieving this growth? When broken down into key areas its nothing special. We apply hardwork, focused attention on detail, run small projects that either have direct commercial gain or builds infrastructure for future growth and are also now benefiting from the investments made 6 years ago in IT systems and our dedicated 4 acre site. The business works hard in every department including the non-core commercial areas such as HR, physical infrastructure, employee working environments and the various in-house IT systems.
To give an insight of the projects we are working on today:
I feel Xbite will experience our best peak period in our history in Q4 2018 as we are poised to take advantage of the investments we have made to date. It's easy to focus on the negative news which is dominating the press in general retailing, but Xbite continues to invest and see growth in a number of areas and is not experiencing the significant issues other companies are facing.
Here at Xbite we thrive off supporting ambitious young people as they embark into their career and work life. We recently had the pleasure of working with East Midlands Chamber to do a behind the scenes mini documentary on Apprenticeships in a Workplace and what it means to us at Xbite' Looking for an apprenticeship? Check out our Careers Page
Last Friday we spent the day raising money for Sport Relief, with staff donating to wear their team shirts to work and with a sporty themed Bake Off, which was won by Aidan in our Marketing Department for his very creative (and very tall) football cake.
We're getting into the Valentines spirit here by showing all of our staff how much we love 'em!
As well as a lot of hard work, we also had lots of fun over the festive period, with treats for everyone and competitions throughout December, our 2 big winners were runner up, Dan from the Marketing team and the big Winner, Tom from Commercial team, both winning great prizes.
"Happy New Year! 2018 will see a big growth period for Xbite, and our Ecommerce team need new members to help drive the company onto bigger and better things! Our development team need a PHP Developer with mad coding skills, and our paid search channel also needs some assistance as we forge into new projects. Check out our Careers page for more information on the jobs, and how to apply."
We are about to enter our busiest and favourite time of year and we are looking for Temporary Full or Part Time workers to help in our Warehouse. If you are interested, or you know anyone who might be, please get in touch. It's a great place to work, with a great team - more details are on our Careers page, or you can send your CV to firstname.lastname@example.org.
Today is moving day for our office staff into our purpose built logistics center. With 6 months of building work now completed, we are moving into a 6,000sqft office which has some great features and decoration. A main open plan office seating over 40 people will create a dynamic and vibrant atmosphere. With further plans to extend this space in the future.
We have finished another financial year with improved results topping £38m turnover. We continue to invest in infrastructure and staff development and the company is seeing the return from this investment. Our internal system has significantly developed, a new HR hub launched which incorporates a new Profit Related Bonus and Employee Recognition systems which helps our staff progress and be rewarded for their efforts. We have set our objectives for the next 12 months and we are excited to see what we can achieve.
Work is well underway in the development of our Office space at the new facility and it's all looking great so far!
Well the day finally arrived! Our operations Department have moved into our brand new custom built facility. Everything seems to be running smoothly so far and we're getting ready for the Christmas rush.
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