As a result of the challenges faced due to volume declines in the first half of 2016, Purolator sharpened its focus on operational excellence and productivity improvements. Through the introduction of a new commercial strategy, combined with structured reductions in Purolator’s costs to serve, the organization experienced positive revenue and profit growth in the latter half of the year.
Purolator generated revenue of $1.53 billion and achieved earnings before tax of $67 million. Building upon its industry-leading service and reliability, the company continued to focus on launching new services, supported by new technologies and improved processes that reinforce its position as one of the leading providers of integrated freight, package and logistics solutions in Canada.
In 2016 there were two key drivers of Purolator’s growth. The first was building and strengthening its core business, and the second was the expansion of Purolator’s traditional delivery focus from primarily business customers to a more diverse mix including e-commerce customers alongside other key verticals.
As e-commerce continues to grow and influence delivery services, Purolator’s dedication to continuous improvement will enable the company to be agile with its processes and thrive as a result of its relentless focus on the customer.
In July 2016 the Board appointed John Ferguson as Purolator’s new President and Chief Executive Officer. Purolator’s new leader has a track record of career success and extensive industry knowledge, which the Board sees as essential to increasing the company’s forward momentum. John’s mandate as the CEO is to bring commercial, operational and organizational efficiencies to Purolator, laying the foundation for future growth. I am confident John will successfully build and implement a lean, continuous-improvement culture that will take Purolator into the next phase of its transformation.
I continue to serve with an exceptional board. Together we stand united in our mandate to provide oversight and support to Purolator’s management team.
Chairman of the Board