Clipper’s logistics up 50% amid ‘unprecedented’ trade

Leeds-based retail logistics firm Clipper Logistics on Wednesday published a trading update for the Black Friday and Christmas periods saying that it experienced “unprecedented levels of activity in its logistics operations” in both the UK and continental Europe.

Clipper Logistics’ shares have soared more than 100% in the past year.

“The company is pleased to report that, for the months of November and December, revenues in its logistics business were 50.0% higher than in the corresponding period of the prior year, with strong growth in both e-commerce related activities and non e-fulfilment services,” said Clipper.

“This continues the strong performance seen in the first half of the financial year, where Clipper reported an increase in revenue from its logistics operations in the six months to 31 October 2020 of 27.9% to £270.2m.

“Of particular note is that Clipper has fulfilled its one-billionth item of PPE ordered online through the portal established with eBay in the spring of last year.

“This service has now been extended beyond local health care providers including GP surgeries and nursing homes, to educational and other communal establishments.

“Whilst additional revenue will not necessarily have a proportionate impact on operating profit given Clipper’s contract mechanisms, this level of activity gives management an excellent level of confidence in the year ahead.

“The board is also pleased to report that the company continues to enjoy a strong pipeline of new business opportunities.”

Clipper executive chairman Steve Parkin said: “Our strategic positioning in supporting the online trading of retailers both in the UK and Europe places us in a strong position to continue to deliver excellent returns to our shareholders.

“I am immensely proud of the ability of our teams across the business to continue to support our customers’ exceptional growth.

“The strength of both our underlying markets and our new business activity provide us with an excellent level of confidence in the year ahead.”