Clipper increases forecasts after two major retailers agree long-term deals

Logistics group Clipper expects to outperform expectations this year and into the future after it won two major contracts with retailers River Island and Mountain Warehouse.

The two long-term deals will increase revenue by more than £40m annually, providing a significant boost to the £500m-turnover group.

Leeds-based Clipper has agreed a five-year deal with River Island and a 10-year deal with Mountain Warehouse, which it describes as a “significant step change in activity levels”.

Clipper’s executive chairman Steve Parkin, who cashed in £62m of his company’s shares last month, said: “These contracts enhance our command of the end-to-end service proposition in online retail, and demonstrate that Clipper is also well-positioned to continue to support high street retail as it recovers from lockdown.

“Our strategy to focus on providing innovative solutions in both the online and traditional bricks and mortar retail landscapes continues to drive value for both our customers and shareholders.”

The River Island agreement is a “significant extension” of the work it currently does for the retailer handling returns from its Nottinghamshire distribution centre.

Clipper’s contract with outdoor retailer Mountain Warehouse is for a full range of multi-channel logistics services which will operate from Clipper’s Peterborough distribution centre.