Clipper Logistics, a UK-based logistics company, has achieved strong performance in the first half of the year ending on October 31st. The company’s success can be attributed to various factors, including securing high-profile customer contracts, organic growth in e-commerce, and a rebound in non e-fulfilment activities. As a result, Clipper’s group revenue has increased by 33% and pre-tax earnings by 12.6%. The executive chairman of Clipper Logistics, Steve Parkin, expressed satisfaction with the company’s performance and emphasized the significant progress made across the group.

One of the key drivers of Clipper’s success has been its acquisition of prominent contracts with renowned companies such as JD Sports, John Lewis, Mountain Warehouse, and Wilko. These new operations have played a vital role in the company’s impressive revenue growth. Additionally, Clipper has formed a joint venture agreement with Farfetch, a leading online luxury fashion retailer. This collaboration will establish a global e-fulfilment solution for Farfetch products and is scheduled to launch in early 2022. The association with Farfetch will not only enhance Clipper’s revenue but also expand the company’s geographical reach in Europe and other international markets.

Even before the full implementation of the Farfetch deal, Clipper has already witnessed substantial growth in e-fulfilment, returns management services, and non e-fulfilment logistics. The group’s pre-tax profit has risen by 12.6% to £16.1 million, and its group EBIT has increased by 12.1% to £22.6 million. Moreover, Clipper has successfully reduced its net debt from £27.7 million to £11.2 million compared to the previous year.

Clipper has also undertaken strategic operational enhancements during this period. It established a new distribution center in Venray, Netherlands and secured additional warehousing capacity in Daventry, England. With 52 sites in the UK and mainland Europe, the company now manages a total of 14.3 million sq ft of warehouse space. Furthermore, Clipper has invested in automation solutions, including a partnership with Geek+ to develop an automated solution for LifeStyle Sports.

Looking ahead, Clipper aims to sustain its growth in e-commerce, secure new contracts, expand its presence in Europe, engage in strategic M&A activity in Europe and the US, and invest in technology and business intelligence. The board of directors is optimistic about the company’s long-term prospects, particularly considering the record volumes achieved in trading post-period-end.

Overall, Clipper Logistics has had an impressive first half of the year, driven by significant contract wins, growth in e-commerce, and operational efficiency improvements. With a positive long-term outlook, the company is well-positioned to capitalize on opportunities in the logistics industry.

Useful Links:
Clipper Logistics Official Website
Farfetch Official Website