- 30 April 2021
- Transport / Logistics Services
UK independent carrier Yodel has reported strong growth in volumes and profits in its third quarter trading statement for financial year 2021.
Compared to Q3 2020, Yodel saw parcel volumes grow by 59%. In the first three quarters of the financial year it saw volumes grow by 35% compared to the three quarters to March 2020.
The company is investing in its infrastructure to manage the strong growth, which came amidst what the company called ‘very challenging’ operational conditions thanks to the pandemic.
Mike Hancox, CEO of Yodel, commented: “We’re continuing to make significant progress during FY21. The work of our colleagues up and down the country has been fundamental to the success that we’re seeing, and we thank them for their tireless efforts.
“We are using technology to get smarter; our customer service is improving thanks to a more integrated approach to technology, and this is helping to reduce our operational costs. Just as importantly, it’s supporting us on our environmental journey too. We’re using less fuel as a result of driving more efficient routes, and our work with SmartDrive has helped us analyse driver behaviour and push for improved efficiency.
“We’re expecting our existing client base to continue to grow and we have a solid pipeline of new business opportunities which will deliver further growth in the new financial year.
“In all, the figures for Q3 reflect the positive work that the business has undertaken as we continue to progress. We’re investing in technology, capacity growth and efficiency improvements and it’s rewarding to see these come to fruition. On a personal note, I’ve been impressed with the way in which all our colleagues have got on with their jobs amongst the national uncertainty. They are the greatest asset of the business, for which we are most grateful.”