Rise of Online Retail Drives Strong Results at Clipper

Clipper said it was positive for the long-term outlook

The Leeds-based company said its revenue jumped 33% to £ 406million in the six months to October 31, following strong revenue growth from e-fulfillment and returns management services.

Profits rose 12% to £ 23million on strong revenue growth from value-added logistics.

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Steve Parkin, Executive Chairman of Clipper, said: “I am delighted to report significant further progress within the group, with impressive revenue growth of 33% and EBIT growth of 12%.

“This growth is due to the continued online momentum and the reopening of brick and mortar stores.”

“In addition, I welcome new major clients to whom we have started to provide services over the period. We are also delighted to enhance our existing partnerships with long-standing customers. “

Mr Parkin said Clipper is expanding its presence in mainland Europe.

“Our factory in the Netherlands is now fully operational and our recent acquisition of CE Repair complements our technical services division and expands our offering and geographic reach in continental Europe,” he added.

“Our recent announcement of forming a joint venture with Farfetch focused on the online luxury market will significantly expand our geographic reach both in Europe and beyond. “

“With regard to the macroeconomic factors currently at play in the UK and beyond, given the strength of our business model and the continued dynamics of e-commerce, the Board is positive about the outlook for the long term. term. I am proud of how our team managed to overcome these factors during the period and I want to thank them for all their hard work. “

Since the beginning of November, the group has recorded record volumes compared to 2020 at many of its sites.

Mr. Parkin said, “Our unique proposition using technology-driven omnichannel solutions that enable retail, coupled with strategically aligned and value-creating acquisitions, will ensure continued growth for the group going forward. “

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Anne G. Cash