Yodel looks to move into profit

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Yodel expects to move into operating profit in 2014-15 after reporting a £70 million improvement in EBITDA for the year to 30th June.

The company said parcel volumes had grown by 11 per cent in the half year to 30th June. Revenue for the period was up 12 per cent. And in the first few weeks of the new financial year volumes were up 14 per cent on last year.

Neil Lloyd, Yodel’s chief executive officer, said: “As a new management team, we set ourselves a number of tough targets twelve months ago and I am pleased to say that with the support and hard work of the whole Yodel workforce, we have exceeded our goals. We are benefitting from improvements in consumer confidence and we are also taking market share, and, therefore, growing at a faster rate than the parcel volume in the market.”

Over the year, Yodel’s TrustPilot score increased from 2.6 to 6.0 and its Net Promoter Score improved from -10.45 to +47.27.

“While the measures are not yet where Yodel wishes them to be, at these levels they still place it as one of the UK’s leading parcel service providers for customer experience,” it said.

Yodel went through a major restructuring between 2010 and 2012 to bring together the Home Delivery Network and DHL’s domestic parcels businesses.

In 2012 Yodel gave Amazon EU the option to purchase 20.45 million shares in Yodel Delivery Network at 42.8p per share. Amazon can exercise the option until July 2022.

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