Yodel fails to turn a profit in latest results
Yodel has conceded that it is not making a profit as its latest round of financial results (to June 2014) were delivered.
However, the delivery company reported improving figures and said it expects to move into operating profit for the year 2014/15.
The company said it recorded an annualised improvement in excess of £70 million in EBITDA terms, and saw parcel volume and revenue increase by 11% and 12% respectively in the period 31st December 2013 to 30th June 2014.
Yodel’s executive chairman, Dick Stead said: “The UK parcel market remains a crowded and ultra-competitive space.
“I am delighted that the range of services we offer through our van delivery network, cost-effective local couriers, rapidly expanding joint venture CollectPlus and our developing international network are winning market share and placing Yodel as the parcel carrier of choice for omni-channel retailers.
“Yodel’s management and its shareholders remain absolutely focussed on developing a parcel business with a profitable long-term future, offering outstanding customer experience.”
