Clipper Logistics posts 20% revenue growth

Clipper Logistics has reported a revenue growth of 19.8% for the six months ended 31 October 2020, when compared to the same period last year.

The provider of value-added logistics solutions, and e-fulfillment and returns management services, attributed its £50.4m rise in revenue for H1 FY21 mainly to an accelerated “structural shift” to e-commerce.

The firm’s EBIT also increased by a similar margin of 21.7%, from £16.6m to £20.2m

Steve Parkin, executive chairman at Clipper, said: “The group has successfully chartered the uncertainty and disruption caused by the pandemic to deliver impressive revenue growth of 19.8% and underlying EBIT growth of 54.3%. 

“The group benefited directly from the structural shift and acceleration of online retail such that our e-fulfilment and returns management division saw underlying EBIT growth of 63.3%.”

The company’s e-fulfilment and returns management services saw the greatest growth, with non-underlying EBIT rising 36.8% to £14.8m.

Meanwhile, non e-fulfilment logistics did grow, but at a slower rate of 4.1% to £10.1m for H1 FY21.

Parkin added: “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.” 

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