Profits have rocketed at Clipper Logistics in its first year as a listed company as the group was buoyed by a number of high profile contract wins and renewals, including those with Harvey Nichols, New Look, Pep&Co, Philip Morris, and Zara.

In the year to 30 April 2015, group revenues increased by 16.7 per cent to £234.8m and adjusted EBIT increased by 24.9 per cent to £12m.

Group profit for the financial year was £7.3m, an increase of 157.3 per cent

Executive chairman Steve Parkin said the business was confident of its ability to maintain this momentum, with a strong new business pipeline expected to drivecontinued organic growth in the 2016 financial year.

'The group is proud to be continuously recognised throughout the UK's retail sector, as a leading provider of value-added logistics and e-fulfilment solutions and this is reflected in our latest set of full year results,' said Parkin.

'Successfully implementing its strategy of both organic and acquisitive growth whilst working with some of the UK's most recognised brands, the business continues to drive shareholder value.

'Our new reporting year has started strongly with the signing of terms for a click and collect solution with John Lewis and we look forward to updating the market with further successes through the coming year.'

source: Yorkshire News