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Clipper Logistics reports 20% revenue increase

Clipper Logistics, a provider of value-added logistics solutions, e-fulfilment, and returns management services, has reported a 20% growth in revenue for the first half of the financial year.

The firm’s notice of interim results for the six months ended 31 October showed revenues of at least £300m, with e-fulfilment logistics growing over 30% and non-e-fulfilment logistics growing roughly 10%.

While the full results will not be made available until December, the company acknowledged the “strong organic growth” occurring throughout the business.

The report said: “This continuing growth trajectory has been particularly driven by strong organic growth on the majority of e-fulfilment and returns management activities, as well as new contracts brought onstream in the period including Joules, N Brown, T M Lewin, Revolution Beauty and the NHS.”

Also noted by the firm, who employs over 8,000 people across the UK and Germany, was a continuation of the group’s “strong cash generation”.

This has resulted in net debt of £27.9m at the period end, in comparison to the £64.4m debt reported at the same point last year.

Clipper added that the “good momentum and the existing pipeline of new business opportunities” should lead to “strong performance” in the second half of the financial year.

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