(Alliance News) - Clipper Logistics PLC on Thursday reported an "impressive" interim revenue performance, boosted by new client wins and strong growth in e-fulfilment business.
The logistics firm said revenue for the six months to October 31 increased 12% to GBP254.6 million from GBP227.9 million in comparable period a year ago. Meanwhile its earnings before interest, taxes, depreciation and amortization rose 14% to GBP12.1 million from GBP10.7 million.
As a result its pretax profit grew 9.5% to GBP10.1 million from GBP9.3 million.
The company said the revenue growth was largely attributable to growth in the e-fulfilment and returns management business activity.
Approximately half of the revenue growth was due to the full six months impact of new contracts, which included Hope & Ivy Ltd, Simba Sleep Ltd, Amara Living Ltd, Shop Direct Ltd and others, the company said. Meanwhile, around a quarter was due to revenue growth in continental Europe.
The company declared an interim dividend of 3.5 pence per share, up 9.4% from 3.2p paid in comparable period a year ago.
Steve Parkin, executive chair, said: "Trading has continued to be positive post-period end, with the key Black Friday trading weekend seeing record daily volumes in certain sites, and we expect full year earnings to be broadly in line with the board's expectations."
"Notwithstanding the difficulties facing the UK high street and the uncertainties of he UK political environment in the current year, Clipper remains positive about the longer-term outlook and believe the group is well positioned to achieve further growth in both the UK and internationally."
Clipper shares were down 1.3% in London at 296.00p each on Thursday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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