Logistics firm delivers revenue growth in H1

Leeds-based Clipper Logistics has seen its revenue increase to £254.6m in the first half of the year to 31 October.

The 11.7% increase is attributed to strong revenue growth in the e-fulfillment and returns management area of the business according to the half year results which have been published.

The business has also see an increase in pre-tax profits by 9.5% following the launch of new operations with Shop Direct, Simba Sleep and a new operation providing services to the M&S National Distribution Centres.

Commenting on the results, Steve Parkin, Executive Chairman of Clipper, said:
“The Group continues to see impressive revenue performance in the first six months. Our business continues to perform well in Europe, with revenue growth in Poland of 111.6% and Germany of 33.4%. This is supported by a solid new business pipeline in the UK where we continue to offer value-add e-commerce and logistics services, including automation programmes, as we trial robotic technologies with a number of customers.”

Looking ahead to the future the business believes it is ideally position to support retailers looking to minimise their route to market cost due to its “presence and infrastructure in retail logistics”.

The firm is also investing into the future, launching an automation programme with Superdry and trialling the use of robotic technology with a number of UK customers.

Following the close of this reporting period, the Board of Clipper Logistics plc announced last month that it had received a preliminary approach from Sun European Partners  in relation to the potential acquisition of the entire issued, and to be issued, share capital of the Group. Sun European Partners currently has investments in both Dreams and ScS retailers alongside other retail operations, however now further announcement has yet been made.

Mr Parkin added: “Trading has continued to be positive post-period end, with the key Black Friday trading weekend seeing record daily volumes in certain sites, and we expect full year earnings to be broadly in line with the board’s expectations. Notwithstanding the difficulties facing the UK high street and the uncertainties of the UK political environment in the current year, Clipper remains positive about the longer-term outlook and believe the Group is well positioned to achieve further growth in both the UK and internationally.”