Half-year revenues close to £200m at logistics firm

Clipper Logistics has reported a 21% rise in pre-tax profits to £8.4m and a 21% revenue increase to £199m in its half-year results.
The Leeds based logistics firm this morning published its six-month results to 31 October, which showed that EBITDA was 19% ahead at £9.2m. Revenues were up from £164m for the same period last year and pre-tax profits up from £6.9m.
In this time, the firm successfully launched new operations for Secret Sales, M&S and River Island in the UK, and recently commenced returns operations with ASOS in Poland.
A major new sortation and distribution contract with the Edinburgh Woollen Mill Group began, bringing with it new sites in Nantgarw (Cardiff) and Carlisle. Clipper also launched a new transport operation with Crosswater Holdings Limited;
The company extended its click-and-collect network to other retail customers including Supergroup and Urban Outfitters.
Completed the acquisitions of Tesam Distribution Limited and RepairTech Limited, both of which are immediately earnings-enhancing. Tesam enhances our existing relationship with M&S and RepairTech brings new skills and customers to our electrical repairs and returns offering;
Significant organic growth, both with long-standing customers and with more recent start-ups, including the commencement of new Vype operations for BAT;
Strong performance in commercial vehicles division driven by new vehicle sales;
Steve Parkin, executive chairman, said: “I am pleased to report that the Group has once again delivered strong results in line with the Board’s expectations.
“Strong revenue and profit growth has continued in all sectors. Our market-leading position in the high-growth area of e-fulfilment and associated services, has been enhanced further by the onboarding of new customers onto the Clicklink click-and-collect operation, and the new ASOS returns facility in Poland demonstrates our commitment to leveraging our existing business across Europe.
“The first half of the current financial year saw strong organic growth on existing contracts, particularly in the e-commerce sector, and this was complemented by contract wins and two strategic acquisitions. Both of these acquisitions are performing in line with our expectations.
“The new business pipeline continues to be strong, and we expect the positive momentum from existing and new contracts to continue into the second half of the year.”