Member Article

Clipper Logistics reports revenue increase

Leeds-based Clipper Logistics has reported that group revenue increased by 25.2% to £201.2 million, but pretax profit dipped after their IPO.

The firm reported profit before income tax for the year was £3.9 million in comparison to £5.2 million the year before.

A new £30 million bank debt facility was put in place at IPO to facilitate targeted acquisition strategy, and the firm has also secured a contract with supermarket chain Tesco this year.

Steve Parkin, executive chairman of Clipper commented:“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.

“We are proud to have achieved a successful listing on the Premium Segment of the London Stock Exchange and look forward to creating further shareholder value in the next phase of the business’s development.”

This was posted in Bdaily's Members' News section by Clare Burnett .