Clipper revenue rises but profit drops

Steve Parkin of Clipper Logistics
Steve Parkin of Clipper Logistics
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CLIPPER Logistics reported a 25.2 per cent rise in revenue this morning but announced a drop in profit.

Clipper, which floated on the stock market earlier this year, saw revenues soar to £201.2m in its full year results to the end of April.

However, profit before income tax dropped to £3.9m from £5.2m and operating profit also decreased from £6.2m to £4.8m.

Chairman Steve Parkin, who launched the Leeds-based business in 1992, said: “The group is in an enviable position; being amongst the leading providers of value-added and e-fulfilment solutions to the retail sector in the UK, the business is growing in line with its strategy and is poised for further growth in the medium term, both in the UK and internationally.”

He added: “We continue to win new contracts within both e-fulfilment logistics and non e-fulfilment logistics, both in the UK and Europe, through our focus on our retail specialisms and provision of cost-effective, value-added solutions. We look forward to updating shareholders on these new contracts when they are formalised.

“The board is confident in the group’s prospects for the full year ahead. Current trading is in line with our strategic plan, and we are confident of achieving another period of excellent financial performance in the year to 30 April 2015.”