- 29 March 2017
- Transport / Logistics Services
Retail giant (and parent of delivery company Hermes) Otto Group has said that its overall revenue for the financial year 2016/17 was up by 3.4% to just over €12.5 billion.
In a statement issued yesterday (28 March), Otto Group said: “On a comparable basis global revenue climbed by 5%, meaning that the company beat the target of 4% comparable revenue growth it set itself at the beginning of the financial year.”
E-commerce was once again the “growth driver” for the group, as the comparable revenues for its 100+ online shops worldwide was up by around 10% from €6.3bn to almost €7bn.
Otto’s delivery specialist Hermes also continued to benefit from growth in the online retail sector, raising revenue by around 5% to €1.574bn. The Otto statement added: “On an exchange-rate adjusted basis, growth was even higher at over 11%, thanks to the very positive development of the British operation Hermes UK.”
For retail giants and logistics companies alike, e-commerce is a very attractive proposition with fewer storefronts relative to revenues. The market, particularly in the UK is going strongly and even with Brexit seems set to continue…
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