Liverpool-based delivery giant Yodel has recorded its most successful year ever, delivering a profit “well beyond all forecasts” as online retail thrived due to the pandemic.
Yodel said total volumes in the 12 months to June 30, 2021 grew by 28% compared to the year before, with full-year revenues standing at £563m – up by £133m from 2020’s £430m.
Without revealing the exact figure ahead of a full results release in December, the firm said it had been “strongly profitable”.
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Yodel added that its Q4 volumes from April to June had risen by 12% compared with the year before.
Mike Hancox, CEO, said: “FY21 has been the most successful year in Yodel’s 13-year history, delivering a profit well beyond all forecasts and our strongest profit before tax result ever.
“Thanks to the tireless work of our colleagues across the country, coupled with our expert handling services, we improved our overall performance which helped finish FY21 very strong.
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“Over the past year we’ve signed multiple new clients including Hello Fresh, JD Sports and Yours Clothing and we’re expecting our client base to continue to grow.
“We also have a solid pipeline of new business opportunities, such as Yodel Direct – our re-launched customer-to-customer service offering – which will deliver further growth in the new financial year.
“Despite restrictions easing, the e-commerce market continued to grow throughout the pandemic, and we believe that, thanks to consumers’ appetite for home delivery, the shift online is set to become permanent.”
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In terms of strategic and operational highlights for the year, Yodel said it had invested over £14m in its fleet, including tractor units and trailers which will help the business handle increased parcel volume.
It has also launched a LGV apprenticeship scheme across the UK allowing applicants to train for a category C+E license at one of three national sort centres, as well as continuing to support veterans getting back into work.
That’s as well as creating 3,000 jobs earlier this year.
Full results for the year ending June 30 will be published in December.