Leeds-based provider of logistics solutions to the retail sector, Clipper Logistics plc, has reported strong financial growth for the six months ending October 31, 2016.

In this period, Clipper’s revenue increased to £164.9 million, which is a rise of 16.5% on last year’s £141.5 million figure.

Profit before tax also increase by 25.5% up to £6.9 million, compared with £5.5 million last year, and the total amount of cash generated from operations went up by 67% to £12.3 million from £7.4 million last year.

Subsequently, Clipper’s earnings per share are now 5.3 pence, which is a 23% rise from last year’s 4.3 pence.

The firm achieved this growth as it extended the Click and Collect network for John Lewis to full national coverage, and formally entered into a Joint Venture with John Lewis.

Clipper also agreed to new contracts with M&S for returns and Halfords for inbound bulk handling and storage.

The firm’s European business has also carried on making progress, with new contracts secured in Germany which will marginally contribute in the second half with full benefits in the next financial year.

Executive Chairman of Clipper, Steve Parkin, commented: “I am pleased to confirm that the Group has once again delivered strong results in line with the Board’s expectations. Revenue and profit growth has been strong in all sectors, and we have improved further our operating cashflow.

“Our market-leading position in the high-growth area of e-fulfilment and associated services, has been enhanced further by the recent formalisation of a Joint Venture with John Lewis to provide a Click and Collect service dedicated to the needs of high street retailers. We expect this to significantly enhance profits in future financial periods.

“The first half of the current financial year saw strong organic growth on existing contracts, particularly in the ecommerce sector, and this was complemented by a number of new contract wins.”