WaverleyTBS Announce 2010 Annual Results

WaverleyTBS have revealed a more positive set of results this year turning a £0.9m loss into a profit of £4m, before tax and exceptionals, for the year ending Dec 2010.  Increased efficiencies including the closure of 10 distribution depots and a reduction in staff has helped the bottom line.

WaverleyTBS was sold by Heineken UK and into new private ownership under Manfield Partners and management in June 2010.

The Business has undergone significant restructuring over the last 2 years to stabilise and secure its long term prospects. This has involved a reorganisation of the sales and marketing functions and a restructuring of the logistics network to reduce cost and improve margins.

Managing Director Jonathan Townsend comments  ‘We all know the on-trade market continues to be difficult with CGA predicting a further decline of 5-7% this year.  WaverleyTBS will continue to look at ways of improving our business through further developing and strengthening our service and product offering to our current and potential customers.  We have a number of new initiatives and investments planned in 2011 including a fully upgraded systems infrastructure to support our business growth and exclusive distribution/agency relationships with premium brands

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