Clipper Logistics expects H1 revenue up 20% to £300m

Shares of Leeds-based retail logistics firm Clipper Logistics rose about 4% on Thursday after it announced a trading update for the six months ended October 31, 2020.

“Clipper has continued to see strong trading across the business in the year to date, benefitting particularly from the continued structural shift to e-commerce that has been accelerated during the ongoing Covid-19 pandemic,” said the Leeds company.

“The group expects to report revenue for the period of at least £300m, an increase of almost 20% against the prior year comparative period, including e-fulfilment logistics growth of over 30% and non-e-fulfilment logistics growth of approximately 10%.

“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.”

Clipper Logistics employs over 8,000 people and its client base includes Harvey Nichols, ASOS, The John Lewis Partnership, Asda, Supergroup, Morrisons and PrettyLittleThing.

Clipper’s shares have soared about 100% in the past 12 months to give it a current stock market value of around £480 million.

The company added: “This good momentum and the existing pipeline of new business opportunities is expected to give the group continuing strong performance into the second half of the financial year.

“Clipper expects to announce its interim results in early December 2020.”

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