3rd Dec 2015 08:22
LONDON (Alliance News) - Clipper Logistics PLC on Thursday said its pretax profit rose in the first half thanks to higher revenue and more contract wins, adding it sees good opportunities in place for the second half.
Clipper said its pretax profit for the six months to the end of October rose to GBP5.5 million from GBP3.6 million a year earlier, as revenue rose to GBP141.6 million from GBP111.6 million.
The group said its earnings across its e-fulfilment and returns management and non-e-fulfilment logistics operations all increased in the half, as it continued to secure new contracts.
In the half, the group started work on e-fulfilment services for an unnamed major international retailer from a distribution centre in Northampton, started operations on a new Click & Collect contract with department store retailer John Lewis and put in place a new deal with Philip Morris, the US cigarette giant.
The group said it would hike its interim dividend 25% to 2.0 pence per share, up from 1.6p, and said it sees a continuing strong pipeline of further opportunities.
"I am pleased to report that the group has delivered results in line with our expectations, with strong revenue and profit growth, and further improved operating cash flow," said Steve Parkin, Clipper's executive chairman. "We continue to have a strong pipeline of new business opportunities, and have continued positive momentum on both existing and new contracts as we enter the second half of the year."
Clipper shares were untraded early Thursday, having last traded at 260.00p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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