Delivery firm Yodel makes first ever annual profit thanks to pandemic parcels boom
Yodel has made its first ever annual profit after demand for parcel delivery services surged in the pandemic, according to its boss.
Revenues for the year to July 2021 at the business rose 31 per cent to £563million.
Parcel volumes in the six months to the end of 2021 slipped 1.6 per cent compared with late 2020 – which was boosted by lockdown – but were still up 22 per cent on two years earlier.
Delivering profits: Yodel’s parcel volumes in the six months to the end of 2021 slipped 1.6% compared with late 2020 but were still up 22% on two years earlier
Chief executive Mike Hancox said online shopping deliveries, combined with cost cuts and technology investment, had helped Yodel achieve the result.
Details are likely to be announced in weeks, he said.
Hancox, in charge since 2019, said a decision had yet to be made on whether the billionaire Barclay family – who bought logistics giant DHL’s parcels unit in 2010, rebranding it Yodel – would take a first-ever dividend.
Yodel is testing ‘electronic calling cards’ which send customers an email instead of putting a delivery slip through the door if they are out.