Clipper reports "encouraging" e-fulfillment

Clipper reports "encouraging" e-fulfillment

Midway through 2018, Clipper Logistics (CLG) surprised the market in its full-year release with a cautionary tone from management over future contract conversion rates. Happily, this has yet to play out. Analysts at Numis said contract wins had been “encouraging” during the first half and “create significant forward profit momentum” for the e-fulfilment division. During the reported period Clipper Logistics began a new e-fulfilment operation for Pretty Little Thing in Sheffield, and maintained organic growth with existing customers such as Asda, Asos and Wilko. Together, this helped drive a 17.1 per cent increase in operating profit from e-fulfilment to £6.2m. This also includes a £0.7m loss from Clicklink, but this is expected to reverse during the second half due to the seasonality of the business.

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