Clipper Logistics plc Trading Update (6874K)

TIDMCLG

RNS Number : 6874K

Clipper Logistics plc

06 January 2021

6 January 2021

Clipper Logistics plc

Trading update for the Black Friday and Christmas Periods

Clipper Logistics plc ("Clipper", the "Company", or the "Group"), a leading provider of value-added logistics solutions, e-fulfilment and returns management services, is pleased to announce that it has experienced unprecedented levels of activity in its logistics operations in both the UK and continental Europe over the Black Friday and Christmas periods.

The Company is pleased to report that, for the months of November and December, revenues in its logistics business were 50.0% higher than in the corresponding period of the prior year, with strong growth in both e-commerce related activities and non e-fulfilment services. This continues the strong performance seen in the first half of the financial year, where Clipper reported an increase in revenue from its logistics operations in the six months to 31 October 2020 of 27.9% to GBP270.2m.

Of particular note is that Clipper has fulfilled its one-billionth item of PPE ordered online through the portal established with eBay in the spring of last year. This service has now been extended beyond local health care providers including GP surgeries and nursing homes, to educational and other communal establishments.

Whilst additional revenue will not necessarily have a proportionate impact on operating profit given Clipper's contract mechanisms, this level of activity gives Management an excellent level of confidence in the year ahead.

The Board is also pleased to report that the Company continues to enjoy a strong pipeline of new business opportunities.

Steve Parkin, Executive Chairman, said: "Our strategic positioning in supporting the online trading of retailers both in the UK and Europe places us in a strong position to continue to deliver excellent returns to our shareholders. I am immensely proud of the ability of our teams across the business to continue to support our customers' exceptional growth. The strength of both our underlying markets and our new business activity provide us with an excellent level of confidence in the year ahead."

Ends

ENQUIRIES

 
 Clipper:                                 [phone] 
 Steve Parkin, Executive Chairman 
 Tony Mannix, Chief Executive Officer 
 David Hodkin, Chief Financial Officer 
  Public Relations Advisers: 
 Buchanan:                                [phone] 
 David Rydell 
 Stephanie Watson 
 Hannah Ratcliff 
 
 

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January 06, 2021 02:00 ET (07:00 GMT)