CFH Docmail has seen its turnover grow to £42m for the year ending March 2015, a 37% increase on the previous year.
The firm's latest accounts show that its EBITDA were £2.7m, a 42% growth over the previous year, and its pre-tax profit was £1.36m, compared to £518,000 in 2014. Net profit was up 103% on 2014.
The company also benefited from a £1.1m cash inflow. Its net debt was reduced by 38% to £2.1m with its debt to equity ratio falling to 63%.
The strong results are attributed to continuing Docmail growth, a number of major contract wins, a full year of trading with flight operations services provider Navtech and significant levels of government and council work, including the General Election.
CFH Docmail managing director Dave Broadway said: “It is pleasing to report that CFH has continued its strong growth of recent years. Our Docmail hybrid mail service continues to be the leading service in the UK, maintaining an incredible 50% growth rate.
“Our fossil fuel-free postal delivery service Velopost continues to grow at 20% per month in the three cities it services.
“We have launched a consumer online document repository, Dotpost, during the year, which provides consumers with a new way of storing and receiving critical documents, and we have continued to win major transactional mailing contracts.
“It’s particularly pleasing that we can achieve all of this while reducing our overall impact on the environment with the new solar roof on our Radstock plant, and the continuing reduction in energy use and wastage across the whole company.”
The firm’s employee numbers grew from 270 to 319 during the financial year and has risen again to 380 since 31 March.
Broadway said early signs for the current financial year are positive and that he is expecting turnover to increase again by around £5m to £6m.
“We’re ahead of budget and expectation at the moment and expecting another good year,” he said.
Last week the company announced that it has acquired the assets of the Glasgow site of BSS Scotland, also trading as BSS Scotmail, in a bid to increase its presence in Scotland.