- 2020/21 turnover grows by 10% to £16.2m
- Profits after tax rise by 97.2% to £1.164m
- £2.7m investment in a new 4.5-acre transport centre followed by a further £2.2m funding expansion of its pallet storage capacity
Miniclipper Logistics has celebrated its 50th year of trading with a strong 2020/21 business performance.
Turnover grew by 10% to £16,218,688 following sustained high demand for warehousing services from both existing customers and prospects which saw all five sites operating at full capacity for the majority of the 2020/2021 financial year.
As a result, profit for the financial year (after tax) increased by 97.2% from £590,458 in 2020 to £1,164,712 through continued provision of transport, storage, and warehousing solutions for the medical, construction, print, retail, and food sectors. Miniclipper is also a shareholder member of the Palletline and Hazchem networks.
Gross margin increased from 42% in 2020 to 45% in 2021, while net assets increased from £3,465,704 to £4,521,695 during the year from a continued focus on cost control and process improvements across its transport and warehousing operation.
Investment across the business continues with its transport operations located to a new 4.5-acre site in Dunstable during April 2021 as a result of a £2.7m investment. The new site doubled the size of its previous Billington Road site in Leighton Buzzard, and now houses Miniclipper’s entire transport operation, including a fleet of 40 7.5-tonne, 18-tonne, and 44-tonne MAN trucks, plus 30 trailers.
As a second phase of this investment programme, £2.2m is being invested in its Billington Road site to create an additional 10,000 pallet spaces. When this is fully operational in mid-2022, Miniclipper will have 450,000 square feet of storage and over 38,000 pallet spaces across five sites in Leighton Buzzard, Houghton Regis, and Dunstable.
As part of the wider group investment Miniclipper has also spent £500k updating its IT, telecoms, and security systems as well as significant grounds and office improvements to ensure safe and comfortable working conditions for its employees.
Reporting results to the 31 May 2021 Miniclipper’s managing director Peter Masters commented: “Transport volumes have been consistently high in the last financial year, with an ongoing pressure on wage costs and driver recruitment.
“Storage revenue during this pandemic remained consistently high, with demand levels showing no signs of slowing. Fuel is a significant cost to the business, but we are part of an ongoing fuel swap arrangement that limits the impact of future price increases.
“We have invested in the GoAudits software platform to ensure consistent reviews of all our operations takes place and were awarded a Silver award by RoSPA for significant safety performance for the second year running,” he added.
Miniclipper has also announced the appointment of Jon Parish as Commercial Director to support the continued growth and profitability of the business. Parish has worked in the logistics industry since 1992 for companies such as DSV, Lindal Group, Norbert Dentressangle UK, and Rhenus Logistics.