LONDON (Alliance News) - Logistics and e-fulfilment services company Clipper Logistics PLC on Tuesday said its pretax profit for the financial year to the end of April surged higher as the group's revenue increased ahead of its costs.
Clipper said its pretax profit for the year to the end of April was GBP9.5 million, up from GBP3.9 million a year earlier, as revenue rose to GBP234.8 million from GBP201.2 million, well ahead of its cost of sales and administrative cost rises over the year.
The company said it was boosted by significant contract wins secured over the year, including with fashion retailer Zara and US tobacco group Philip Morris International, along with extensions to its long-term contracts with retailers Harvey Nichols, New Look and Tesco.
The group added that the continued growth in retail e-commerce is driving volumes in the logistics and e-fulfilment market, and it said its business pipeline going into the new year was robust, with further organic growth expected in the current financial year.
Clipper will pay a final dividend of 3.2 pence per share, bringing its total dividend payout to 4.8 pence per share. The company only floated in London in June last year.
"The group is proud to be continuously recognised throughout the UK's retail sector, as a leading provider of value-added logistics and e-fulfilment solutions and this is reflected in our latest set of full year results," said Steve Parkin, Clipper's executive chairman.
Clipper shares were up 1.4% to 228.00 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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