Double digit growth for acquisitive logistics business
“We remain confident of our ability to evolve and develop,” said Clipper Logistics in a statement this morning in which growth in group revenues reached double figures.
Sales for the group increased by 17.2% from £290.3m to £340.1m for the year to 30 April 2017.
Pre-tax profits for the year increased to £16.0m from £13.1m the year before.
It topped a successful year for Clipper, which entered into a high profile joint venture with John Lewis called Clicklink Logistics, as well as signing new contracts with Halfords, Inditex and Links of London.
Clipper’s proposed final dividend for the year ended reached 4.8p per share, up from 4.0p in 2016, bringing the total proposed dividend to £4.8m for the year.
A final dividend for the year ended 30 April 2016 of £4.0m and an interim dividend of £2.4m for the year ended 30 April 2017 were paid in the year to 30 April 2017.
Post year-end, Clipper, which employs just over 3,700, completed the acquisitions of Tesam Distribution in May for £12m and RepairTech in June for £2.5m.
Steve Parkin, executive chairman of Clipper and recipient of this year’s Ambassador of the Year award at the Business Masters, commented: “The Group is proud of its track record of consistently developing effective solutions to address the changing needs of retailers in today’s continually evolving consumer landscape.
“Our latest set of full year results reflects the trust and confidence that our customers have in our ability to enable them to achieve their service proposition to their own customers, through the provision of relevant and cost-effective services.
“Clipper’s strategy of driving organic growth and seeking targeted, complementary acquisitions continues to enhance shareholder value.
“As we move into our new financial year, we have a strong pipeline of new business opportunities, and we look forward to updating shareholders as these crystallise over the coming months.
“Clicklink, our Click and Collect solution owned jointly with John Lewis, now provides a multi-user platform which is gaining significant traction with other retailers. In addition, the recent acquisitions of Tesam and RepairTech broaden both our customer base and our suite of services, and will be immediately earnings-enhancing.”
