Clipper Logistics grows in Europe
Leeds (UK)-based Clipper Logistics has reported its results for the first six months of its financial year which ended on 31 October 2021 (H1/FY 2022). While revenues increased significantly by 33.1% to GBP 406.1 million (EUR 476 million), the group's ebit surged 12.1% to GBP 22.6 million (EUR 26.5 million).
In the logistics division, in UK, approximately 19.0% was attributable to revenue growth on new contracts won in H2/FY2021. Revenues in Europe grew by 57.1% compared to the same period last FY, with approximately 72% of this being from new contract wins, the most significant being in relation to expansion into the Netherlands with Farfetch.
The group profit before tax, amortisation and exceptional costs was up 12.3% to GBP 16.8 million (EUR 19.7 million). The company also reported a reduction in net debt to GBP 11.2 million (EUR 13.1 million). (sh)