Profits soar 50% at Clipper Logistics

“EARNINGS-ENHANCING” acquisitions and new deals have pushed profits up at Clipper Logistics by more than 50%.

For the six months to 31 October 2015, pre-tax profits for the group were up 52.9% to £5.5m.

Group revenues increased to £141m from £111m in the same period in 2014.

This year, Clipper have signed a deal with former Asda boss Andy Bond to supply logistics solutions to his value clothing brand Pep & Co, which he set up with the help of Christo Weise of Reward Capital, and signed a Click and Collect deal in collaboration with John Lewis.

After successfully undergoing an IPO, in December 2014 Clipper acquired Servicecare in a £5.7m deal, which has been described as “earnings-enhancing” for the company.

Steve Parkin, executive chairman of Clipper, who was rumoured to be in the bidding for Leeds United earlier this year, said: “Clipper continues to leverage its market-leading position in the high-growth areas of e-fulfilment logistics and returns management, and has seen strong organic growth on existing contracts complemented by the impact of new contract wins with well known and respected brands.

“We remain confident for the future and look forward to updating our shareholders and the markets throughout the year.”