Yodel has released its fourth-quarter trading update, with an overall increase in volumes between April and June of 12% compared to Q4 in its 2020 financial year. Total volumes in the twelve months to June 2021 have grown by 28% compared to the twelve months to June 2020. Full-year revenue was slightly over the previous guidance of £563m, up from £430m in FY20.
The company has this year invested over £14m in Yodel’s fleet, including tractor units and trailers which will help the business handle increased parcel volume, following a record year for online retail.
It has launched an LGV apprenticeship scheme across the UK allowing applicants to train for a category C+E license at one of three national sort centres and has also relaunched its consumer-to-consumer service, Yodel Direct, which will allow individuals and small businesses to ship parcels directly between one another.
Mike Hancox, CEO of Yodel, said: “FY21 has been the most successful year in Yodel’s 13-year history, delivering a profit well beyond all forecasts and our strongest PBT result ever.”
The company has won several new clients in the last year, including Hello Fresh, JD Sports and Yours Clothing. “We have a solid pipeline of new business opportunities, such as Yodel Direct which will deliver further growth in the new financial year,” said Hancox. “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.”
