CLG.L Share News (CLG)

(Sharecast News) - Clipper Logistics lifted its interim dividend on Thursday as it posted a jump in profit and revenue and said it was on track to meet full-year guidance.
In the six months to the end of October, pre-tax profit rose 12.6% to £16.1m on revenue of £406.1m, up 33.1% on the same period a year ago. The company highlighted "strong" revenue growth in both E-fulfilment and returns management services and non e-fulfilment logistics of 31.7% and 41.6%, respectively.

Basic earnings per share ticked up 12.5% to 12.6p and the interim dividend was bumped up 12.5% to 4.5p a share.

Clipper said there had been strong trading across the group thanks to high-profile customer contract wins, organic growth in e-commerce and a "robust" rebound in activities in non e-fulfilment.

It said revenues generated in the provision of services to traditional bricks and mortar customers or where it provides non e-fulfilment services to customers such as Asda, Harvey Nichols and New Look in the UK and s.Oliver and TIGI in Europe, have strongly rebounded in the first half since the closure of non-essential retail.

Clipper said trading continues to be strong and it's on track to meet the board's full year guidance.

"We remain positive in the group's outlook for the current year and the longer-term and believe the group is well positioned to achieve further growth both in the UK and internationally, with strong tailwinds and significant further M&A activity," it said.