Clipper posts 20% rise in turnover in first half-year results since pandemic

Clipper said it had “successfully chartered” the stormy waters of the pandemic to deliver a 20% increase in revenue, which was wholly attributable to growth in its e-fulfilment and returns management divisions.

The results for the six months ending 31 October 2020 revealed a £305.2m turnover, along with a 20.1% boost in pre-tax profits to £14.3m.

Clipper Logistics said it continued to see strong trading across the business and that it was benefiting particularly from the structural shift to e-commerce that had accelerated during the Covid-19 pandemic.

It has increased its distribution centre portfolio to accommodate this increase in activity and it now has 52 sites in the UK and Europe.

Steve Parkin, Clipper executive chairman, said underlying EBIT growth in the e-fulfilment and returns management divisions was 63.3%, which included a positive contribution from its Clicklink joint venture.

“In addition, we are immensely proud of the operations which have commenced in the period with major customers including N Brown, Joules, Linenbundle, Revolution Beauty, T M Lewin and Unipart,” he said. “We have a solid new business pipeline in the UK, and we have the infrastructure to deliver innovative, technology-focused omni-channel solutions to retailers.

“Whilst conscious of the UK macro-economic climate, given our strategic positioning in the e-commerce sector, we remain positive about the long term outlook.”

Parkin added: “It is pleasing trading has continued to be positive post-period end, with the key Black Friday trading weekend seeing record daily volumes for many customers.

“We therefore expect full year earnings to be materially ahead of the board’s previous expectations.”

The post Clipper posts 20% rise in turnover in first half-year results since pandemic appeared first on Motor Transport.

Clipper said it had “successfully chartered” the stormy waters of the pandemic to deliver a 20% increase in revenue, which was wholly attributable to growth in its e-fulfilment and returns management divisions. The results for the six months ending 31 October 2020 revealed a £305.2m turnover, along with a 20.1% boost in pre-tax profits to £14.3m. Clipper Logistics said it continued to see strong trading across the business and that it was benefiting particularly from the structural shift to e-commerce […]
The post Clipper posts 20% rise in turnover in first half-year results since pandemic appeared first on Motor Transport.Read More

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