Clipper revenues bounce after retail sales swing further online

Retail logistics giant Clipper said it has been boosted by an acceleration in shopping online during the pandemic as it posted a surge in sales for the past year.

The Leeds-based business saw group revenues rise by 39.1% to £696.2 million for the year to April 30.

Clipper said it has rapidly expanded, increasing its workforce by around 2,000 staff to 10,000 over the year after demand continued to rise.

Executive chairman Steve Parkin said: “The market has witnessed significant recent change particularly with the acceleration of the growth in e-fulfilment which now represents 70% of our logistics revenue.

“Our highly deployable asset-light model has enabled us to reinforce our pan-European proposition during the financial year, which together with a strong pipeline of new business activity ensures that the group is in an excellent position to achieve further growth both domestically and internationally.”

The firm said it acquired a raft of new contracts during the year, including the likes of Revolution Beauty, JD Sports and H&M.

It added that pre-tax group profits rose to £21.7 million for the year, compared with £16.2 million in the previous year.

Bosses at the firm also told the PA news agency that they have introduced new incentives to staff in recent months, amid high demand for distribution workers.

Chief finance officer David Hodkin said the company has been well protected from supply chain disruption which has impacted swathes of the UK retail sector.