Logistics firm delivers half a billion pound revenue
Logistics business, Clipper Logistics has reported an reaching a milestone revenue of £0.5bn and increasing profit in its final results for the year ended 30 April 2020.
The Leeds-based group saw its revenue rise by 8.8%, adding more than £2m to its profit after tax.
The business which has experienced significant organic growth over the financial year “particularly driven by “high e-fulfilment volumes”, said that despite being impacted by lockdown restrictions which “temporarily impacted high street and e-commerce demand”, it was pleased to have signed new customers including the NHS and Very Group as well as growing contracts with among others PrettyLittleThing.com and Sports Direct.
Steve Parkin, executive chairman of Clipper said, “I am delighted to report such a strong set of final results as Clipper reaches a significant milestone, delivering record revenues exceeding £0.5 billion. This has been driven by strong organic growth in the period, particularly in e-fulfilment, and value-enhancing acquisitions made in prior years.”
During lockdown the business saw demand for online fulfilment quickly recover and rise to unprecedented levels and Parkin believes that the situation has led to “a permanent upward shift in the transition of retail online.”
However he believes that the strong track record of e-fulfilment, returns management – including for the likes of Amazon and John Lewis – and click and collect, the business is “extremely well positioned to continue to deliver on these trends.”
In fact revenue from e-fulfillment and returns management services this year rose by 18.4% to £277m, as non e-fulfilment logistics dropped by 1%.
Despite the uncertain economic conditions due to Covid-19, Parkin said the group is in “an excellent position to achieve further growth both in the UK and internationally.” Highlighting that the firm’s hands-on approach to managing “long-term and pro-active relationship with its retail clients allows it to continue to support its clients during these changing retail market conditions.”
The board has also highlighted that a positive start to FY21, which has included further support to the NHS via an online portal for fulfilling orders for PPE to GP surgeries, small care homes and home care providers and the adding of a further 1.5m sq ft of space to its 10m sq ft of infrastructure, anticipate “that the Group’s results for the year ending 30 April 2021 will comfortably exceed market expectations.”
