Yodel losing big bucks


 

Yodel’s annual loss increased by nearly half, its latest financial accounts reveal, despite a change in senior management and the firm’s extensive remodelling of its network. Loss on ordinary activities before taxation for the year ended 30 June 2013 increased 46% to £98.2m (2011/12: £66.9m). Turnover fell 28% to £389m in the same period (£539.9m). In recent years, Yodel operated a capacity cap during the Christmas peak, turning away some seasonal ad hoc work, to ensure service standards were maintained. […]