Clipper Group hitting the road to rapid growth

The Leeds-based Clipper Group, which started out with a single van, now employs more than 3,000 people at 30 sites across the UK and Germany.

The company has developed a new eBay store, which will help its customers to dispose of end-of-season or end-of-line stock.

Figures released yesterday showed that Clipper reported a further growth in revenues in the year to April 2012.

Turnover increased by five per cent to £175m, with operating profits after exceptional items growing from £6.2m to £6.5m. EBITDA (earnings before interest, taxation, depreciation and amortisation) was £9.2m.

A spokesman said yesterday: “The group put in place new banking facilities with Santander during the year, and the costs associated with this exercise resulted in a one-off increase in finance expenses to £2.4m.

“Pre-tax profit for the year was £4.1m, and net worth at April 2012 was £14.2m.

“Clipper continues to experience rapid organic growth in the current financial year, winning significant new contracts with a variety of blue chip customers, including a new 10-year contract with Asda George at Clipper’s new Wynyard Park facility in the North East.”

In October last year, Clipper created 400 jobs by opening a 22-acre distribution base at Wynyard Park, near Stockton, which can process three million items of clothing per week.

Clipper’s EBITDA for the year to April 2013 is expected to grow to more than £10m.

Clipper provides retail support services to a number of well-known high street names, operating from more than 3m square feet of warehousing facilities.

Clipper has been working with Leeds-based Asda since 2006.

The Clipper Group was founded by entrepreneur Steve Parkin in 1992 with one van delivering clothing for fashion stores.