Clipper Logistics Group saw turnover in all of its divisions soar in the year before its IPO as a result of e-commerce business win, as well as organic growth from existing contracts.
Its results for the year to 30 April 2014 revealed that turnover in its e-fulfilment logistics division grew by 55% to £46m (2013: £29.6m), while turnover derived from other logistics business grew nearly 30% to £89.6m (2013: £69.3m).
Adjusted EBIT (earnings before interest and tax), grew by almost 50% from £2.5m to £3.7m in its e-fulfilment operation. Non e-fulfilment logistics EBIT increased from £7.9m in 2013 to £9.2m.
The company said the increases came as a result of the full-year impact of new contracts that were secured in the previous financial year, including American Golf, Wilkinson, Claire’s Accessories and Morrisons’ Nutmeg clothing range. It also saw growth from contracts won during the year, including Asos, Antler and SuperGroup.
Clipper also said it received organic business growth from existing contracts with retailers including Asda, The John Lewis Partnership, New Look and Tesco, which recently extended its contract with Clipper by five years.
Its recently-opened port-centric warehouse in Wynyard, Billingham, and has secured a 10-year contract with Asda. A contract with Antler will also be operated from the site too.
Executive chairman Steve Parkin said: "The Group has the enviable position of being one of the leading providers of value-added logistics and e-fulfilment solutions to the retail sector in the UK. The strong performance delivered in the financial year to 30 April 2014 has continued into the current financial year. The business is advancing in line with its strategy and is poised for further growth, both in the UK and internationally.”
Parkin also revealed that it had attracted a number of retail and blue chip investors as shareholders since its IPO earlier this year.
“The business is growing through our ability to demonstrate real value-add services for our large client base and we are confident of maintaining this level of momentum,” he added.
Its commercial vehicle division, Northern Commercials, also saw a 6% increase in turnover to £66.8m and a 25% uplift in adjusted EBIT to £1.8m. It claimed to have sold over 2,400 new vehicles and 416 used vehicles to customers including Asda, Ryder and Dawsons last year.
Clipper said it is in talks with a number of UK retailers about their international logistics requirements, following the acquisition of German operator R Geist Spedition in October last year. It said the acquisition will help it attract customers in Germany who wish to increase their online presence and support UK retailers’ European expansion plans .
