Directors home deliver £4m rewards after logistics group’s share price trebles
Three executive directors of Leeds-headquartered logistics business Clipper have sold a portion of their shares for £4.2m, taking advantage of a 15-month rise in its share price.
Clipper’s shares were trading around 260p in early 2020 but soared throughout lockdowns as consumers turned to online shopping creating a surge of demand for last-mile logistics. The directors – Steve Parkin, Anthony Mannix and David Hodkins – sold their shares at 840p.
The shares were from the 2015 performance share plan and the 2018 sharesave schemes.
The value of the business has rocketed since the early weeks of the pandemic with the share value trebling between February 2020 and July 2021.
Clipper noted in August that the shift to online retail was fuelling growth reporting a 39.1% increase in revenues for the year ending 30 April 2021 and a pre tax profit of £26.7m.
Its strong performance has continued into the current financial year, securing a five-year contract with Ireland’s largest sports retailer Life Style Sports and a minimum three-year term to provide John Lewis with additional e-commerce and store replenishment services.
The share sale saw executive chairman Steve Parkin sell shares worth more than £2m, while CEO Anthony Mannix and CFO David Hodkins sold £1.2m and £1m respectively.
