An East Durham delivery specialist has posted a record financial performance for the year.
Premium white glove delivery firm Panther Warehousing, which employs more than 40 people at its North East base in Peterlee, has released end-of-year results which show 30% growth in turnover to £38million.
And with like-for-like sales this year already being up by 70%, senior management are predicting further growth, with turnover expected to rise to £55 million.
The company now has its sights set on achieving a turnover of £100million by 2020.
Panther has year a number of new services this year, including the launch of its ‘Solo’ one-man delivery service, a two-hour delivery window, late cut off times up to 10pm, Sunday deliveries and a Sunday collection service for Monday delivery.
Managing director Colin McCarthy said: “This has been an incredible year for Panther and one in which we have enjoyed unbelievable growth as more and more customers have embraced our service offering.
“These record results are a testament to the company’s ongoing commitment to deliver a best in class service and continuous innovation enabling us to stay ahead of the competition.
“We pride ourselves on consistently looking at ways to increase and improve our offering for the benefit of both our customers and the end customer and it is this approach which has been at the core of our success.”
Panther has a number of developments planned which include a potential acquisition within the warehousing and storage sector, an investment of £1million in IT together with a major recruitment drive to expand its 500-strong workforce to 750 employees.
The company also intends to increase its depots to 10 by 2018, with plans for a further five depots by 2020, as well as invest in a new fleet of 125 vans to keep up with demand.