Clipper Logistics has reported a 21% rise in pre-tax profits to £8.4m and a 21% revenue increase to £199m in its half-year results.
The Leeds based logistics firm this morning published its six-month results to 31 October, which showed that EBITDA was 19% ahead at £9.2m. Revenues were up from £164m for the same period last year and pre-tax profits up from £6.9m.
- Extended Clicklink, the click-and-collect network to retail customers including Supergroup and Urban Outfitters;
- Successfully launched new operations for Secret Sales, M&S and River Island in the United Kingdom, and recently commenced returns operations with ASOS in Poland, leveraging knowledge and experience from existing ASOS returns activities in the United Kingdom;
- Commenced a major new sortation and distribution contract with the Edinburgh Woollen Mill Group, bringing with it new sites in Nantgarw (Cardiff) and Carlisle, and commenced a new transport operation with Crosswater Holdings Limited;
- Completed the acquisitions of Tesam Distribution Limited and RepairTech Limited, both of which are immediately earnings-enhancing. Tesam enhances our existing relationship with M&S and RepairTech brings new skills and customers to our electrical repairs and returns offering;
- Significant organic growth, both with long-standing customers and with more recent start-ups, including the commencement of new Vype operations for BAT;
- Strong performance in commercial vehicles division driven by new vehicle sales;
- Continuing strong pipeline of new business opportunities.
Steve Parkin, executive chairman, said:
“I am pleased to report that the Group has once again delivered strong results in line with the Board’s expectations.
“Strong revenue and profit growth has continued in all sectors. Our market-leading position in the high-growth area of e-fulfilment and associated services, has been enhanced further by the onboarding of new customers onto the Clicklink click-and-collect operation, and the new ASOS returns facility in Poland demonstrates our commitment to leveraging our existing business across Europe.
“The first half of the current financial year saw strong organic growth on existing contracts, particularly in the e-commerce sector, and this was complemented by contract wins and two strategic acquisitions. Both of these acquisitions are performing in line with our expectations.
“The new business pipeline continues to be strong, and we expect the positive momentum from existing and new contracts to continue into the second half of the year.”
As referenced above, Clipper Logistics has announced that it has secured a five-year extension to its contract with Superdry.
Superdry has been a customer of Clipper for five years, and the new agreement will see Clipper continue to provide warehousing, store delivery, e-fulfilment and returns management services, in addition to other value-added services through to September 2023.
Clipper is a leading provider of innovative warehousing, distribution and associated services, and is in addition a market leader in the provision of e-fulfilment and associated services including returns management, focusing on the retail sector.
Gordon Knox, Head of Logistics at Superdry, said:
"For the last five years Clipper has worked closely with the team at Superdry to provide a first-class service to our iconic and dynamic business, maximising service delivery at optimum cost. We look forward to continuing to work with Clipper to ensure that our logistics infrastructure supports our ambitious plans, through continual evolution of systems and processes".
Steve Parkin, Executive Chairman of Clipper said:
"Superdry has been a key client of ours for five years, and we are delighted that our long-term relationship will continue. Superdry is a world-leading brand that we are proud to support, and our innovative approach to development of solutions for dynamic retailers makes us the "go-to" provider of logistics services."