Clipper Logistics has reported impressive financial results for the year ending 30 April, showcasing strong organic growth and successful contract extensions with retail partners. The company has also experienced rapid expansion in mainland Europe due to strategic acquisitions and momentum following the pandemic.

Over the 12-month period, the company’s group revenues increased by 39.1% to reach £696.2 million. Underlying EBIT saw a significant boost of 52.4% to £31.4 million, while reported EBIT increased by 22.5% to £39.8 million. Group profit after tax rose by 33.8% to £21.7 million, and underlying post-tax profit surged by an impressive 61.9%. Cash generated from operations also saw a substantial increase of 44% to reach £86.9 million, and net debt was reduced from £45 million to £16.9 million compared to the previous year.

Clipper Logistics attributes its organic growth to the rise in e-fulfilment volumes, driven by the permanent shift towards online shopping. The company successfully secured contract extensions with major clients such as ASOS, Farfetch, and John Lewis, while its joint venture with John Lewis for Click & Collect achieved record volume gains. Notably, the company also secured new contracts with Revolution Beauty, commenced operations with Mountain Warehouse and JD Sports, integrated the River Island site into its portfolio, and established a new facility for Farfetch in Venray, the Netherlands.

Looking towards the future, Clipper Logistics is optimistic and has made a strong start to the new fiscal year. The company expects trading to be in line with its upgraded guidance. Executive Chairman Steve Parkin emphasizes Clipper Logistics’ position as the preferred partner for customers both in the UK and internationally. He highlights the significant growth in e-fulfilment, which now represents 70% of the company’s logistics revenue.

Useful links:
1. Clipper Logistics Official Website
2. Revolution Beauty Official Website