Yodel

Yodel made its seventh loss in a row in the year ended 30 June 2016, while its sister company Arrow XL saw its pre-tax profit leap by more than 500%.

Three years after the firm’s self-set deadline for turning a profit, Yodel finished the year with a pre-tax loss of £50.4m (2015: £46.7m).

The company also saw its turnover fall by 1% to £422.7m, from £428.2m the previous year.

A spokesman for the parcel delivery firm said: “Yodel has made significant strides forward as a business over the last 18 months.”

This, the spokesman said, included “record customer satisfaction levels, significant investment in IT” and the “appointment of new chief executive Mike Cooper in January 2016 to drive the next stage in Yodel’s transformation”.

However Arrow XL, also owned by Yodel parent company Yodel Distribution Holdings, saw its profit for the year jump from £409,000 to £2.7m - an increase of 550%.

It also saw a slight turnover increase to £82.9m (2015: £80.7m).

Arrow XL chief executive Ian Howell said: “To move to this kind of profit level is fantastic.  It’s on the back of a great performing year with the launch of technology led game changers like our live order tracking web app AskAxl, and our new VIP home delivery service Platinum.

“We’ve established a strong platform for growth going forward, we’re firmly focused on the future and the next stage of development.”

Yodel Distribution Holdings finished the year ended 30 June 2016 on turnover of £505.7m (2015: £504.7m) and made a pre-tax loss of £58.2m (2015: £57.7m)

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