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.
The new building is looking good and we are on track for moving in October.
Our sister company, High Tech Click, is continuing the development of the new Antler system. We have made great progress in difficult circumstances as we have learned so many aspects of delivering an IT system for the ecommerce and wholesale industry with modern coding and ability to expand the system in future. We have now migrated over 20% of the business and expect to be fully migrated by March 2017. We are already seeing the benefit of the system with improved efficiency and increased profitability.
Oh boy have we had a lot of sunshine in the last 12 months. Turnover has grown by over £3m in the last year to £30.3m. We have invested a lot of money over the years in people, infrastructure, systems and new opportunities. 50% of which has not worked out and cost us money, but our glass is half full, so in recent months we have adjusted the business to suit our new objectives and we are seeing great results.
Over the last 2 years we have helped many young people secure a future, starting them on the career ladder once the apprenticeship has ended. We are proud to have retained and taken on over 8 young people across all departments. We are a young company at heart and we take pride in helping local people find new opportunities.
We have just given the go ahead to start phase 1 of building our dream premises. We purchased 4 acres of land 2 years ago and today we have signed a deal to construct a 24,000 sqft custom designed fulfilment centre in Barlborough, Chesterfield. We expect to move in prior to our peak season in October 2016. Fingers crossed.
We started a new chapter in 2012 by deciding to rebuild our entire IT system from the ground up. We wanted to create the best thing since sliced bread. Something our industry could only dream of. We called the project Antler. 3 years later, after blood, sweat and tears, we have installed the beta version of the system and started the slow progress of migrating over. The potential of Antler is huge and we can't wait to maximise it.
Despite the difficult trading conditions over the last 12 months, Xbite has manged to buck the trend and recorded a record high turnover of £27m from £22.6m the previous year. This a great achievement and testament to the dedicated people working in the business. We still have potential for further growth in our current categories as well as entering new ones.
Our apprenticeship programme has had great success in the first 12 months and we have found the majority of successful candidates enthusiastic and willing to learn. We have peaked at 8 concurrent roles running in all departments of the business from Marketing, Accounts, Commercial, Warehouse and Ecommerce. We take pride in giving valuable work experience to young people and we help them form a career path for the future.
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