Unipart Group has announced its financial results for the year ended 31st December 2019.

Group turnover rose to £799.2m  at an increase of 11.7%. Group profit before defined benefit pensions, interest and taxation, and other exceptional items also grew by 5.4% to £27.3m.

Commenting on the results, Unipart Group Chairman and Chief Executive John Neill said: "We were looking forward to announcing these good results from 2019, and then Covid-19 hit the world. We moved in advance of government advice to firstly implement social distancing and other measures to protect our people and their wellbeing, then our processes and the flow of products and services to our customers.

“We expected to see continued growth in sales and profitability in 2020, and while some of our operations are growing faster than planned, placing great demands on our fellow employees, others have had to be furloughed because our customers have paused production. The board and all the executives reporting directly to me volunteered, without hesitation, to take a 20% percent pay reduction, which has already been implemented.

“We remain confident of the future because of the geographic, sectoral, and customer diversification of our business and, for the foreseeable future, we will be taking the necessary steps to generate cash, conserve cash and reduce costs while continuing to support and invest in those businesses that are growing now and which we expect to continue growing in the future."

For full coverage of Unipart's 2019 results click here.