CLG.L Share News (CLG)

(Sharecast News) - Clipper Logistics posted a strong set of full-year results on Monday and also issued some upbeat guidance for the current trading year on the back of "exceptionally high demand" for its services.
Clipper said revenues reached a record level of £500.7m in the year ended 30 April, up 8.8% year-on-year, while underlying earnings improved 19.1% to £24.1m, leading the group to recommend a final dividend of 6.2p per share.

Profits after tax grew from £13.4m a year ago to £16.2m, while basic earnings per share improved 20.5% to 15.9p.

The London-listed firm said the performance was driven by strong organic growth in the period, particularly in e-fulfilment, and value-enhancing acquisitions made in prior years.

Looking forward, Clipper highlighted that it had seen a "very positive start" to the current trading year, with annualised revenues standing at over £50.0m - a "significant increase" on the same period last year.

Chairman Steve Parkin said: "I am delighted to report such a strong set of final results as Clipper reaches a significant milestone, delivering record revenues exceeding £500m.

"There will, without doubt, be longer-term changes to the retail landscape however we are confident that our ability to evolve our solutions to meet client needs will ensure that Clipper benefits from these trends as the shift to online retail accelerates."

As of 1350 BST, Clipper shares were up 8.05% at 399.80p.