www.tdg.eu.com
Progress so far
New management
Since the year end, Mike Branigan has taken sole responsibility as CEO and a new finance function has been established, led by Geoff Bicknell.
Improved financial performance
In 2008, TDG delivered a significantly improved financial performance with underlying operating profits increasing by 31% to £26.8m on revenues ahead 10% at £733.1m. For the three-month period of 2008 under DouglasBay
ownership, underlying operating profits totalled £10.3m on turnover of £176.1m.
Strong business development
A further strong performance over the full year in business development, with new business wins again ahead, up 13% at £115m, a seventh consecutive annual increase. Major awards from Aggregate Industries and Vtech further confirmed TDG’s growing reputation as a leader in large-scale supply chain management contracts.
New company structure and culture
Since the year end, the successful restructuring of the business into a single company structure, creating a flatter, more agile and lower cost operating structure. Further efficiency improvements are being investigated continuously.
Autonomy and management focus
With a high degree of decentralisation through autonomous business units now making way for a new ‘one company’ approach, a far higher degree of market focus and entrepreneurial independence is being fostered, with a focus on cash, return on investment and rigorous management of costs.
De-leveraging programme
TDG carries only limited leverage compared to other private equity transactions in the sector. Since acquisition debt has already been reduced substantially through cash generated from equipment and property sale and lease back transactions.