Member Article

Leeds-based Clipper Logistics reports 66% profit increase and hits the acquisition trail

Leeds-based logistics firm Clipper have reported a 66% rise in profit before tax to £3.6 million for the six months ending October 31, and have made a £5.7 million acquisition.

Revenue was also on the up, hitting £111 million mark compared to last year’s £93 million.

In addition, Clipper has acquired specialist logistics firm Servicecare Support Services Ltd for a cash consideration of £5.7 million.

The business, which operates across the United Kingdom from sites in Oldham, Greater Manchester and Barton, Burton-on-Trent, has been trading since 1995 and has a strong client base that includes Argos, Panasonic, Shop Direct Group and Tefal.

Clipper says its success is down to high levels of client retention.

In the first half Clipper renewed or extended contracts with a number of our customers, including Tesco, ASOS, Whistles, Americana, s.Oliver, British American Tobacco, and American Golf.

Steve Parking, executive chairman of Clipper, said: “These are the first interim results of Clipper post-IPO, and I am pleased to report that the Group has delivered results in line with the Board’s expectations, with strong revenue and profit growth, and good cash conversion.

“Clipper continues to have a market-leading position in the high-growth area of e-fulfilment logistics, and has seen strong organic growth on existing contracts complemented by the impact of new contract wins.

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

This was posted in Bdaily's Members' News section by Clare Burnett .