ANC's latest results show why US parcels giant FedEx snapped up the parcels operator, with strong growth in turnover and operating profit. In the year to March 31, 2006 turnover from continuing operations at the ANC group climbed around 10% to £147m from £133m. Pre-tax profit leapt to £5.5m in 2006 from £1.2m in 2005, while operating profit before exceptional items and goodwill amortisation soared by 29% to £5.1m.
ANC's directors state that they considered the future prospects of the company
to be "satisfactory". However they point out that operating a nationwide parcels service "creates an exposure to the volatility of the price or availability of diesel which can affect the company's performance". Other risks include the business failures of franchisees, their report notes. FedEx bought ANC just before Christmas for £120m.
Founded in 1981, ANC operates with a network of 4,500 people and a fleet of 2,200 vehicles from 80 locations.
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