CollectPlus Moves into profitability
CollectPlus has announced that it has increased its parcel volumes and is now handling 5.7m million transactions a year, helping increase revenue growth to £14.3 million for the first six months of the year.
CollectPlus now works with over 260 retail brands, which is a 23% increase in clients taking up CollectPlus’ services since the end of the last financial year (ended 31st March 2013).
New clients include Estee Lauder, Fat Face, Urban Outfitters and Ted Baker. This period also saw retailers such as River Island, The White Company and Superdry offer their customers a local Click and Collect service for the first time, with John Lewis trialling the collection service in 1,500 CollectPlus stores. Industry research from the IMRG currently estimates that Click and Collect services account for over 46m parcels a year across the United Kingdom and this is set to grow to 165m parcels by 2017.
Neil Ashworth, CEO of CollectPlus, says of the results, “CollectPlus continues to go from strength to strength as more and more consumers and brands are seeing the value of our pioneering parcel collections and returns service. This has helped us become a market leader in this sector and a clear alternative to home delivery or the Post Office. This continuing strong growth has helped the business move into profitability for the first time since we were formed and are now handling in excess of 250,000 parcels a week.”
Today’s interim results have been helped by additional investment in CollectPlus’ network of stores, which today stands at over 5,500 which is a 10% increase on last year. This growth has been made possible by the strength and breadth of PayPoint’s network of 34,000 stores nationwide.
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