In its full year 2016 results, Nisa announced sales of £1,309m, citing its supply chain operations as a major highlight of the year.
A return to profitability
Nisa Retail announced full year results for 2015/16, posting a return to profitability, with adjusted earnings of £7.3m, on sales of £1,309m. After a ‘challenging’ year the business has been successfully stabilised with the reduction of central overheads, the exiting of unprofitable accounts and the gaining of new commercial contracts.
Distribution: the jewel in Nisa’s crown
The standout performance for Nisa was that of its distribution service. Described as the jewel in its crown, Nisa managed to exceed its distribution cost per case target, achieving 96.8p, against a target of 97p. Delivery on day was 99.9%, and the pick error rate was just 0.04%.
Investing in stock management
With overall product availability of 97.5% for the year, Nisa has begun investing in stock management software, which will reduce excess stock holding and further improve product availability. It will also significantly reduce the amount of cash that’s tied up in stock on a weekly basis, and improve the business’ cash flow.
The biggest ever swing in profit
Nick Read, CEO of Nisa Retail Limited, commented: “It has been a challenging, but ultimately pleasing year for Nisa. The business experienced the biggest swing in profit in its 39 year history as we sought to stabilise the company, address historical issues and lay the foundations to return to profitable growth and build for it a sustainable business model.”
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