Yodel sees strong revenue growth for financial year

Independent carriers Yodel reported strong revenue growth for the financial year 20-21, hitting £563 million from £430 million in 19-20.

Fourth quarter volumes were up 12% as against the same period in 2020, and over the financial year Yodel saw volumes grow 28% compared to last year.

Over the last year, Yodel has invested more than £14 million in its fleet to manage the growth in volumes. It has also launched an LGV apprenticeship scheme to grow its driver numbers by recruiting non-HGV drivers.

Working with Veterans in Logistics and Walking with the Wounded, Yodel also reinforced its position as an Armed Forces friendly employer.

At the customer service end of the business, Yodel has seen its Truspilot rating remain at 4.6/5, maintaining its position as a leading carrier in the eyes of customers. It also relaunched its C2C service Yodel Direct that allows small businesses and individuals to ship packages to one another.
Mike Hancox, CEO of Yodel, commented: “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. 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.
“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.”