http://www.clippergroup.co.uk/

Clipper Logistics plc is a provider of logistics solutions to the retail sector in the United Kingdom. The Company has two operations: Logistics and Commercial Vehicles. Logistics has operations in the United Kingdom and Germany and its customers include blue chip customers, small and medium sized enterprise (SMEs), start-ups and brands, with the service offering split between E-fulfilment Logistics and Non E-fulfilment Logistics. The Company's Commercial Vehicles division, trading as Northern Commercials, provides a range of services, including sales of new and used vehicles and after sale services, which comprises body shop, servicing and parts sales. The Commercial Vehicles holds dealership rights in its geographical areas of operation for sales of Iveco and Fiat commercial vehicles.


We began life as Clipper Logistics Limited in 1992, with a team of just three people and a single driver. Today, we’re one of the UK’s leading independent logistics companies with a turnover of £200 million.

From day one we did things differently by questioning the old order and providing our customers with unique logistics solutions perfectly suited to modern business. Our willingness to challenge the status quo and quickly embrace change, made us first choice for a number of retailers and gave us invaluable expertise in fashion and high-value logistics.

As we’ve grown we’ve always remained true to our principles of reliability and flexibility, and through a series of handpicked strategic acquisitions and organic growth, we’ve created a new breed of logistics and transport company.

Key Clipper stats:
•We’re one of the UK’s leading independent logistics companies with a turnover of £200m
•We have over 2,500 highly-skilled, long-serving employees
•We have a network of 36 sites
•We have 5 million sq ft of warehousing space
•We operate a fleet of over 270 vehicles

Half Yearly Report
RNS
RNS Number : 7974H
Clipper Logistics plc
03 December 2015



CLIPPER LOGISTICS PLC



"Further strong growth in revenue and profits"



INTERIM RESULTS FOR THE SIX MONTHS TO 31 OCTOBER 2015



Clipper Logistics plc ("Clipper", "the Group", or "the Company"), a leading provider of value-added logistics solutions and e-fulfilment to the retail sector, is pleased to announce its unaudited results for the six months ended 31 October 2015.



Financial Highlights



· Group revenue up 26.9% to £141.5 million (2014: £111.6 million);



· Group adjusted EBIT 18.1% ahead at £6.2 million (2014: £5.2 million);



· E-fulfilment and returns management services EBIT up 59.2% to £3.5 million (2014: £2.2 million);



· Non e-fulfilment logistics EBIT up 6.0% to £5.0 million (2014: £4.7 million);



· Commercial vehicles EBIT up 36.0% to £1.1 million (2014: £0.8 million);



· Group PBT up 52.9% to £5.5 million (2014: £3.6 million);



· Cash generated from operations up 75.4% to £7.4 million (2014: £4.2 million);



· Adjusted earnings per share up 19.4% to 4.3 pence (2014: 3.6 pence);



· Interim dividend up 25.0% at 2.0 pence per share (2014: 1.6 pence).



Operational Highlights



· Commenced e-fulfilment services for a major international retailer from a new distribution centre in Northampton;



· Commenced operations on a new Click & Collect collaboration with John Lewis;



· Implemented a new contract with Philip Morris;



· Returns management solution now fully operational in Germany following contract with s.Oliver;



· Agreed a four year contract to provide distribution services to M & Co commencing 1 January 2016;



· Strong performance in commercial vehicles division driven by new vehicle and parts sales;



· Continuing strong pipeline of new business opportunities.



Commenting on the results, Steve Parkin, Executive Chairman of Clipper, said:

"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. Clipper continues to leverage its market-leading position in the high-growth areas of e-fulfilment logistics and returns management, and has seen strong organic growth on existing contracts complemented by the impact of new contract wins with well known and respected brands.



The Servicecare acquisition, which was completed on 3 December 2014, has been immediately earnings-enhancing, and will deliver results in line with our expectations.



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.



We are pleased to announce an interim dividend of 2.0 pence per share, which will be paid to shareholders on 31 December 2015.



We remain confident for the future and look forward to updating our shareholders and the markets throughout the year."

3 Dec Numis 290.00 Buy
3 Dec Cantor... 265.00 Hold

director purchase

One of the Telegraph's share tips for 2016


Ashley Armstrong


Clipper Logistics


Clipper Logistics, which floated on London’s junior market in 2014, is tapping into one of the most important trends in the retail sector. It is effectively the plumbing behind John Lewis’s and other retailers’ click and collect services. However, what makes it really interesting is its so-called “Boomerang” service, which processes returned goods. The convenience of online shopping means items that don’t fit or aren’t suitable are sent back. British retailers lost £130m from the cost of handling returned items on Black Friday alone and with around 35pc of all goods bought online sent back to shops, the level of returns is only going to increase. The shares are riding high already, up by almost 70pc this year, but Clipper added Zara and South African billionaire Christo Wiese’s Pep&Co to its list of clients this year, and further wins are expected.

Trading Update: Progress on Click & Collect

RNS


RNS Number : 3424Z

Clipper Logistics plc

26 May 2016




Clipper Logistics plc

("Clipper" or "the Company")



Trading Update

Progress on Click & Collect



Clipper Logistics plc, a leading provider of value-added logistics solutions and e-fulfilment to the retail sector, is pleased to announce that trading for the year to 30 April 2016 is expected to be in line with the Board's expectations, with continued growth in revenue, operating profit and net earnings.



Clipper is strategically well-positioned to capitalise on the continued structural changes in the retail sector. An ever greater proportion of retail activity is taking place online, and Clipper believe this continuing trend will provide further earnings momentum into future years.

The Company is also pleased to announce that facilitisation of its latest shared-use facility in Northampton is progressing well. The site will provide a variety of services to retailers including both pre-retail activity and returns management under the Company's "Boomerang" brand. John Lewis will be the key initial customer at the site, and in addition to other services Clipper will be managing returns of all product categories, including electrical products, for this iconic retailer.

Progress on Click & Collect

The proportion of online orders that are collected from store rather than being delivered to home has risen significantly over the last two years, leading Clipper to identify the need for a dedicated next-day sortation and delivery service into high street stores. We have entered into a collaboration with John Lewis to develop this proposition, and the service was introduced during the Autumn of last year, initially focussing on over 100 Waitrose stores.

Additional sortation capacity is currently being installed at the new Northampton site, which will enable Clipper to provide a nationwide Click and Collect service from the Autumn of this year, both for John Lewis and for other retailers.

Final results Tuesday 2 August 2016.

Final Results

RNS


RNS Number : 9090F

Clipper Logistics plc

02 August 2016




Clipper Logistics plc

Final Results for the year ended 30 April 2016



Clipper Logistics plc ("Clipper", "the Group", or "the Company"), a leading provider of value-added logistics solutions and e-fulfilment and returns management services to the retail sector, is pleased to announce its Full Year Results for the year ended 30 April 2016.



Financial Highlights for the year ended 30 April 2016


·

Group revenue increased by 23.7% from £234.8 million to £290.3 million.


·

Basic earnings per share increased by 41.1% to 10.3p (2015: 7.3p).


·

Group Adjusted EBIT1 increased by 21.0% from £12.0 million to £14.5 million.


·

Adjusted earnings per share2 increased by 22.6% to 10.3p (2015: 8.4p).


·

Group profit for the financial year3 increased by 41.1% from £7.3 million to £10.3 million.


·

Dividend per share increased by 25.0% to 6.0p (2015: 4.8p).




1 Adjusted EBIT is defined as operating profit excluding discontinuing and exceptional costs.

2 Adjusted earnings per share is based on profit attributable to ordinary equity holders adjusted by adding back discontinuing and exceptional costs, and adjusting for the tax thereon.

3 Including discontinuing costs of £nil (2015: £0.3m) and exceptional costs of £nil (2015: £0.9m).

Percentages are calculated based on the underlying numbers as presented in the Financial Statements, not on the rounded figures above.



Operational Highlights for the year ended 30 April 2016


·

Successfully launched a Click and Collect collaboration with John Lewis, with plans to roll out across the Clipper customer base.


·

Commenced operations on the Pep&Co, Haddad and Zara contracts secured in FY15.


·

Secured new contract wins in the year with Browns (a Farfetch brand) and M&Co, both of which launched in FY16, and Kidly which launched in early FY17.


·

Secured increased space, rate and/or activity commitments with existing customers including British American Tobacco, Sainsbury's, SuperGroup, Bench, Wilko, Mint Velvet and Philip Morris.


·

Signed two new flagship 10 year leases in Northampton, one for 342,000 sq ft for exclusive use by Zara and one for 304,000 sq ft for a shared use facility with John Lewis as the anchor tenant. The John Lewis facility combines the service offerings of both Clipper and Servicecare.


·

Implemented a significant project for a single pool of stock with SuperGroup, making all inventory available to retail and e-commerce operations.


·

Increased the capacity at a number of our existing sites completing mezzanine floor builds at Swadlincote and Milton Keynes, with another two to be added in FY17 at Harlow and Northampton (Zara).


·

Strong performance in commercial vehicles division driven by new vehicle sales and aftersales activities.


·

Good progress in Servicecare in line with expectations. New Managing Director appointed to drive future growth and development strategy.




Post Year End Highlights


·

Subsequent to the 30 April 2016 year end, the Company also secured new contract wins with Links of London, and John Lewis for pre- retail and returns services




Steve Parkin, Executive Chairman of Clipper commented:

"The Group is proud of its reputation as a leader in the development of innovative logistics solutions to meet the challenges of retailers in an increasingly changing consumer landscape. Our latest set of full year results reflects the confidence that our customers, both long-standing and new, place in our ability to provide services that allow them to consistently achieve their service proposition to their customers. Clipper's strategy of driving organic growth and seeking targeted acquisitions, whilst working with some of the UK's most recognised and respected brands, continues to drive shareholder value. Our new financial year has started well with a strong pipeline of opportunities and we look forward to updating the market as these crystallise in the coming months. In addition, our new Click and Collect solution for the high street, developed in collaboration with John Lewis, will provide nationwide coverage from the Autumn and we are in discussions with a number of retailers about this unique service."



Forward looking statements

This announcement contains forward looking statements. These have been made by the Directors in good faith using information available up to the date on which they approved this report. The Directors can give no assurance that these expectations will prove to be correct. Due to the inherent uncertainties, including both business and economic risk factors underlying such forward looking statements, actual results may differ materially from those expressed or implied by these forward looking statements. Except as required by law or regulation, the Directors undertake no obligation to update any forward looking statements whether as a result of new information, future events or otherwise.

2 Aug Numis 290.00 Hold
2 Aug Cantor... 265.00 Hold

Notice of AGM

RNS


RNS Number : 3744J

Clipper Logistics plc

08 September 2016






Clipper Logistics plc

Notice of AGM

Clipper Logistics plc ("Clipper", "the Group", or "the Company"), a leading provider of value-added logistics solutions and e-fulfilment and returns management services to the retail sector, announces that its 2016 Notice of AGM is now available in electronic form on the Company's website: http://www.clippergroup.co.uk/investor-news/ and will be posted to shareholders on Monday 12 September 2016. It will shortly be submitted to the National Storage Mechanism and will be available for inspection at www.morningstar.co.uk/uk/NSM.



The Company's Annual General Meeting will be held at Clipper Logistics, Gelderd Road, Leeds, LS12 6LT on 17 October 2016 at 11.00am.

New high.

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Clipper signs new 10yr contract with John Lewis
RNS
RNS Number : 3078K
Clipper Logistics plc
20 September 2016
 
Clipper signs new 10 year Contract with John Lewis Partnership
 
Clipper Logistics plc ("Clipper", "the Group" or "the "Company"), a leading provider of value-added logistics solutions and e-fulfilment to the retail sector, is pleased to announce that it has signed a new 10 year contract with The John Lewis Partnership to provide a range of retail support services from a new distribution centre at Grange Park, Northampton. This announcement follows the initial announcement made by the Company in March last year.
 
The new distribution centre, acquired by Clipper earlier this year specifically for John Lewis, will provide in excess of 500,000 square feet of capacity. Initial activity commenced in July 2016 and will support John Lewis' new distribution centre in Magna Park, Milton Keynes.
 
The site will not only be the National Returns Centre for John Lewis managing all e-fulfilment and store returns, but will also provide pre retailing services for John Lewis and a number of other ancillary service activities to support the John Lewis operations.
 
Steve Parkin, Executive Chairman said:
 
"Clipper has had a long and close relationship with John Lewis which continues to develop on a number of fronts. We are delighted to be partnering with them once more and to have finalised this long term contract to enable us to continue to support their operations in the UK"

Joint Venture with John Lewis
RNS
RNS Number : 0514O
Clipper Logistics plc
02 November 2016
 
Clipper Logistics plc
("Clipper" or "the Company")
Click & Collect Services
Joint Venture with John Lewis
 
Clipper Logistics plc, a leading provider of value-added logistics solutions and e-fulfilment to the retail sector, is pleased to announce that it has entered into an agreement with John Lewis plc ("John Lewis") establishing a joint venture company (the "Joint Venture"), formalising the expansion of its provision of multi-user Click & Collect services to address the needs of retailers in the rapidly growing online marketplace.
Clipper identified a need for a dedicated next-day delivery service into high street stores, and this will be provided by the new Joint Venture.
The Joint Venture customer proposition has been developed by Clipper following extensive research by the two partners into the specific needs of retailers in addressing the ever-growing Click & Collect demands of consumers. This includes timed delivery to store in a retailer-friendly format, integration with retailers' customer service systems to provide customer and store updates, text messaging to retailers' end customers, and delivery into store in roll cages with clear "parent and child" relationships between the cage and the parcel in order to facilitate rapid parcel selection.
The service will be operated by Clipper with John Lewis providing expertise and insight into the retail market. John Lewis will also be a key customer of the service. The initial trial commenced in the fourth quarter of 2015, and involved a service for John Lewis's Click & Collect deliveries into 120 Waitrose stores. Following the success of this trial, the service has recently been expanded to over 300 Waitrose stores, providing nationwide coverage.
This highly innovative solution will now be extended to other retailers' stores, and a number of other customers are already using the service.  
The Joint Venture formalises the collaboration between John Lewis and Clipper first announced on 24 July 2015. The existing trade and assets of the collaboration have been transferred to the Joint Venture
Under the terms of the Joint Venture agreement, funding will be provided on a 50/50 basis by John Lewis and Clipper, and profits will be shared between the parties on the same basis. The gross assets at 30 April 2016 were £3.4 million. The consideration is initially £3.4 million in cash, representing the initial funding requirement of the Joint Venture, and a further £0.5 million should the Joint Venture require it in the first two years.
Commenting on the transaction, Steve Parkin, Executive Chairman of Clipper, said:
"This is a truly ground-breaking development which will revolutionise the provision of Click & Collect services to the High Street in Britain. We are delighted to have worked closely with our partners, John Lewis, to research and develop this unique service proposition which will address directly the challenges posed to retailers in this rapidly growing area of activity. The service is another demonstration of Clipper's ability to rapidly solve challenges posed to retailers, using our unparalleled understanding of the retail sector"
Dino Rocos, Operations Director of John Lewis, added: 
"Click & Collect continues to be our fastest-growing delivery channel, with deliveries to Waitrose making up the majority of those sales. This joint venture will provide a much more tailored service so that Click & Collect orders which reach Waitrose branches are handled in a more efficient way. It will enable us to continue to give an outstanding service to our customers, who love this easy and convenient delivery option."

Trading Update
RNS
RNS Number : 6678O
Clipper Logistics plc
09 November 2016
 
9 November 2016
Clipper Logistics plc
Trading Update
Clipper (LSE:CLG), a leading provider of value--added logistics solutions and e-fulfilment to the retail sector, announces an update on trading ahead of its interim results for the six months ended 31 October 2016.
Trading for the first half of the year is in line with the Board's expectations, with growth in revenue, operating profit and net earnings.
The Board remains confident that continued organic growth in the Group's sectors, particularly e-fulfilment and returns management services, coupled with the benefit of new contract wins and the recently announced Click & Collect joint venture with John Lewis, will continue to deliver strong performance in the second half.
Clipper's interim results for the six months ended 31 October 2016 will be announced on Thursday 1 December 2016.
 
-Ends-
 

Half-year Report
RNS
RNS Number : 6213Q
Clipper Logistics plc
01 December 2016
 
 
CLIPPER LOGISTICS PLC
 
"Continuing strong growth in line with expectations"
 
INTERIM RESULTS FOR THE SIX MONTHS TO 31 OCTOBER 2016
 
Clipper Logistics plc ("Clipper", "the Group", or "the Company"), a leading provider of value-added logistics solutions and e-fulfilment to the retail sector, is pleased to announce its unaudited results for the six months ended 31 October 2016.
 
 
Financial Highlights
 
·     
Group revenue up 16.5% to £164.9 million (2015: £141.5 million);
·     
Group EBIT 23.2% ahead at £7.6 million (2015: £6.2 million), reflecting strong performance across all service lines:
 
o 
E-fulfilment and returns management services EBIT up 21.7% to £4.2 million (2015: £3.5 million);
 
o 
Non e-fulfilment logistics EBIT up 18.9% to £5.9 million (2015: £5.0 million);
 
o 
Commercial vehicles EBIT up 20.4% to £1.3 million (2015: £1.1 million);
·     
Group Profit Before Tax (PBT) up 25.5% to £6.9 million (2015: £5.5 million);
·     
Cash generated from operations up 67.0% to £12.3 million (2015: £7.4 million);
·     
Earnings per share up 23.3% to 5.3 pence (2015: 4.3 pence);
·     
Interim dividend increased by 20.0% to 2.4 pence per share (2015: 2.0 pence).
 
 
Operational Highlights
 
·     
Extended the Click and Collect network for John Lewis to full national coverage, and formally entered into a Joint Venture with John Lewis;
 
·     
Click and Collect network now available to other retailers following implementation of further software developments;
 
·     
Successfully launched returns and pre-retail processing services for John Lewis under a ten-year agreement at a new, shared-user logistics facility in Northampton;
 
·     
Agreed new contracts with M&S for returns and Halfords for inbound bulk handling and storage;
 
·     
Increased tobacco contract packing activities during transitional arrangements due to the EU's Tobacco Packaging Directive;
 
·     
Significant organic growth, both with long-standing customers and with more recent start-ups;
 
·     
Secured additional space at Daventry, Avonmouth and Tannochside in the UK, and at Hof in Germany in order to service increasing activity levels. Increased utilisation of space in Wynyard, Burton and Swadlincote;
 
·     
Evolution of the European business has continued to progress, with new contracts secured in Germany which will contribute marginally in the second half with full benefits in the next financial year;
 
·     
Strong performance in commercial vehicles division driven by new vehicle sales;
 
·     
New Managing Directors appointed at Servicecare and in Germany to drive and oversee strategic growth ambitions; and
 
·     
Continuing strong pipeline of new business opportunities.
 
 
Commenting on the results, Steve Parkin, Executive Chairman of Clipper, said:
"I am pleased to confirm that the Group has once again delivered strong results in line with the Board's expectations.
 
Revenue and profit growth has been strong in all sectors, and we have improved further our operating cashflow.
 
Our market-leading position in the high-growth area of e-fulfilment and associated services, has been enhanced further by the recent formalisation of a Joint Venture with John Lewis to provide a Click and Collect service dedicated to the needs of high street retailers. We expect this to significantly enhance profits in future financial periods.
 
The first half of the current financial year saw strong organic growth on existing contracts, particularly in the e-commerce sector, and this was complemented by a number of new contract wins.
 
The new business pipeline continues to be strong, and we expect the positive momentum from existing and new contracts to continue into the second half of the year.
 
The Group is pleased to announce an increased interim dividend of 2.4 pence per share, which will be paid to shareholders on 30 December 2016.
 
The Board remains confident for the future, and look forward to updating our shareholders and the markets throughout the year."

Sharecast - Clipper Logistics shares are worth holding, according to Questor in the Sunday Telegraph. Retail logistics is Clipper's bread and butter, with the rise and rise of internet shopping being a big boon, especially the need to remotely return items. Clipper says its Boomerang returns service is the best as it ensures goods are returned in a state where they are ready for resale, which saves retailers time. Marks & Spencer is a customer, while Clipper's 10-year contract with John Lewis includes operating its national returns centre.

This contract with John Lewis also includes click-and-collect services, where items are bought online and picked up in store. This service is also being opened up to other clients and is expected to be a growth driver, along with expansion in Europe sometimes on the back of contracts with existing UK clients. Sales have grown on average by a compound rate of around 31% in the last decade and a half, while profit margins have remained little altered - and are expected to be slightly boosted by the move into click and collect. First-half results last week indicated trading continues to be positive, with significant increases in activity in all sectors.

Friday 30 December

INTERIM DIVIDEND PAYMENT DATE
Clipper Logistics

The Group is pleased to announce an increased interim dividend of 2.4 pence per share, which will be paid to shareholders on 30 December 2016.

Clipper signs new Contract with BAT

RNS


RNS Number : 8044V

Clipper Logistics plc

02 February 2017




Clipper Logistics plc



("Clipper" or "the Company")



Clipper signs new Contract with British American Tobacco UK Limited



Clipper Logistics plc ("Clipper", "the Group" or "the "Company"), a leading provider of value-added logistics solutions and e-fulfilment to the retail sector, is pleased to announce that it has entered into a new contract with British American Tobacco UK Limited ("BAT").



The new 4 year contract will extend through to the end of 2020.



Clipper is a leading provider of consultancy-led, innovative logistics services, focussing on the retail sector. In addition to warehousing, distribution and associated services, it is a market leader in the provision of e-fulfilment and returns management services.



Under the new agreement, which also includes e-commerce support for Vype, BAT's leading vapour business, Clipper will be providing a full UK logistics operation inclusive of all warehouse operations in the UK and delivery to all BAT Customers in the UK using a mixture of dedicated and shared user vehicles from its various distribution centres.



Steve Parkin, Executive Chairman of Clipper, said:



"We are delighted to have been selected for this significant contract with BAT. This builds on the existing 25 year relationship the two businesses have had and the new contract win and extension of coverage to the whole of the UK is a testament to our approach to proactively building client relationships and delivering solutions for customers".

Clipper signs new contract with Halfords
RNS
RNS Number : 9750D
Clipper Logistics plc
03 May 2017
 
Clipper Logistics plc
 
Clipper signs new contract with Halfords
 
3rd May 2017.
 
Clipper signs a new 8 year contract with Halfords
 
Clipper Logistics plc ("Clipper", "the Group" or "the "Company"), a leading provider of value-added logistics solutions and e-fulfilment to the retail sector, is pleased to announce that it has signed a new 8 year contract with Halfords to provide additional warehouse fulfilment and ancillary services from its distribution centre at Danes Way, Daventry.
 
The Daventry distribution centre has been developed as a multi-user facility over the last few months and provides in excess of 325,000 square feet of capacity. Halfords will be the anchor customer at the site.
 
Steve Parkin, Executive Chairman of Clipper said: "Clipper began its relationship with Halfords last year. I am delighted that we have been able to demonstrate our ability to act proactively as a team and to develop solutions which will make a real difference to the Halfords business. Our relationship with Halfords represents a true partnership which we anticipate will continue to evolve. We are delighted to have finalised this long term contract to enable us to support their operations in the UK."
 
Richard Street, Infrastructure Director at Halfords, said: "We are delighted with the partnership to date which has enabled us to consolidate all of our external storage and enhance pre-retail services. Working with Clipper will enable us to improve the service we offer customers both

Acquisition of Tesam Distribution Limited
RNS
RNS Number : 1664G
Clipper Logistics plc
25 May 2017
 
Clipper Logistics plc
 
Acquisition of Tesam Distribution Limited
 
Clipper Logistics plc ("Clipper", "the Group" or "the "Company"), a leading provider of value-added logistics solutions and e-fulfilment to the retail sector, is pleased to announce the acquisition of the entire issued share capital of Tesam Distribution Ltd ("Tesam").
 
Tesam is a provider of a variety of warehousing and distribution services to the retail sector. The business,which operates from three sites in and around Peterborough totalling more than 1.1m square feet of space, was established in 1984 and employees c.250 people.
 
Tesam is a strong and respected business which has shown consistent profit growth over recent years. In its financial year ended 30 June 2016, Tesam's audited accounts reported revenue of £19.6m, earnings before tax and interest of £1.8m and net assets of £3.1m.
 
The consideration is being funded in cash from Clipper's existing cash and bank facilities. The gross consideration paid is £11.75m, however the assets being acquired include cash of approximately £3.4m and a freehold property which will be sold post-acquisition and is expected to realise £2.7m net.
 
Tesam was principally owned by managing director Stephen Smith who will become a consultant to the Group following completion. The other members of the management team will remain as full time employees of the business.
 
The Peterborough operations are attractively located with highly competitive cost bases. Clipper plans to increase capacity at the key site at Ivatt Way through the installation of mezzanine floors and additional racking and handling capability. This will enhance the ability of the Group to implement its strong pipeline of new business. The acquisition of Tesam will be immediately earnings-enhancing to the Group.
 
 
Steve Parkin, Executive Chairman of Clipper commented:
 
"Tesam is a successful and robustly profitable and cash generative business which we have known for some time. The acquisition, coupled with our planned investment in additional capacity, will enable us to offer existing and prospective customers of both Clipper and Tesam greater operational flexibility, and will provide further headroom for the delivery of our strong business pipeline. We welcome the employees and management team to the Clipper Group and look

Final Results
RNS
RNS Number : 3667M
Clipper Logistics plc
28 July 2017
 
Clipper Logistics plc
Final Results for the year ended 30 April 2017
 
Clipper Logistics plc ("Clipper", "the Group", or "the Company"), a leading provider of value-added logistics solutions and e-fulfilment and returns management services to the retail sector, is pleased to announce its Full Year Results for the year ended 30 April 2017.
 
Financial Highlights for the year ended 30 April 2017
·    
Group revenue increased by 17.2% from £290.3 million to £340.1 million.
·    
Group EBIT1 increased by 21.8% from £14.7 million to £17.9 million.
·    
Group profit after tax for the financial year increased by 20.6% from £10.3 million to £12.5 million.
·    
Earnings per share increased by 20.5% to 12.5p (2016: 10.3p).
·    
Cash generated from operations increased by 25.2% from £20.5 million to £25.7 million.
·    
Dividend per share increased by 20.0% to 7.2p (2016: 6.0p).
 
1 Group EBIT is defined as operating profit, including the Group's share of operating profit in equity-accounted investees, before amortisation of intangible assets arising on consolidation and any exceptional or non-recurring items.
Percentages are calculated based on the underlying numbers as presented in the Financial Statements, not on the rounded figures above.
 
Operational Highlights for the year ended 30 April 2017
·    
Entered into a joint venture with John Lewis, Clicklink Logistics Limited, which operates a shared user, retailer- focused Click and Collect solution to capitalise on rapid transition to in-store collections.
·    
Significant new contracts commenced with high profile retailers, including those with Halfords, Inditex, John Lewis and Links of London.
·    
The full year benefit was realised from contracts that went live during the previous year with Browns, M&Co, Pep&Co and Ireland's largest retailer.
·    
Organic growth in activities with ASOS, Morrisons, Wilko and Zara.
·    
Clipper's returns management services brand Boomerang saw another successful year with approximately 89% of product successfully returned to prime stock at first pass.
·    
Maintained excellent service levels throughout the 2016 Black Friday to Cyber Monday peak trading period.
·    
Developed our business in mainland Europe with the commencement of operations for Smiffys and Westwing.
·    
Strengthened the team with key strategic appointments of a Chief Operating Officer, a Group Human Resources Director, an Engineering and Technology Director and a new Managing Director in Germany.
 
Post Year End Highlights
·    
Completed the acquisitions of Tesam Distribution Limited and RepairTech Limited, both of which will be immediately earnings-enhancing, and will extend the breadth of our service offering.
·    
Further bolstered the senior management team with the appointment of a new Senior Operations Director in UK Logistics.
·    
Strong pipeline of new business opportunities with existing new customers.
 
Steve Parkin, Executive Chairman of Clipper commented:
"The Group is proud of its track record of consistently developing effective solutions to address the changing needs of retailers in today's continually evolving consumer landscape.  Our latest set of full year results reflects the trust and confidence that our customers have in our ability to enable them to achieve their service proposition to their own customers, through the provision of relevant and cost-effective services. Clipper's strategy of driving organic growth and seeking targeted, complementary acquisitions continues to enhance shareholder value.
 
As we move into our new financial year, we have a strong pipeline of new business opportunities, and we look forward to updating shareholders as these crystallise over the coming months. Clicklink, our Click and Collect solution owned jointly with John Lewis, now provides a multi-user platform which is gaining significant traction with other retailers. In addition, the recent acquisitions of Tesam and RepairTech broaden both our customer base and our suite of services, and will be immediately earnings-enhancing."
 
Forward looking statements
This announcement contains forward looking statements. These have been made by the Directors in good faith using information available up to the date on which they approved this report. The Directors can give no assurance that these expectations will prove to be correct. Due to the inherent uncertainties, including both business and economic risk factors underlying such forward looking statements, actual results may differ materially from those expressed or implied by these forward looking statements. Except as required by law or regulation, the Directors undertake no obligation to update any forward looking statements whether as a result of new information, future events or otherwise