Yodel has released its financial results for Q3-21 (January to March), reporting a revised full-year revenue estimate of £565m for 2021. This represents an increase on the estimate of £535m given in its Q2 update and would be 31% higher than the 2020 figure of £430m. The report states that Yodel will return to being strongly profitable at the Profit before taxation level in the year to June 2021.
The Q3 volumes of 2021 were a 59% increase on Q3-20, and total volumes in the nine months up to March 2021 were 35% higher than the same period of the previous year.
Yodel reported that its Trustpilot rating has improved to 4.6/5 and that they have received a CCA Global Excellence award for their customer service portal. The company has also been awarded an Ecovardis silver award for its efforts in understanding, tracking and improving their environmental, social and ethical performance.
The report also states that 3,000 new roles were created for the November-December peak trading season of 2020 and that they have announced investments in their infrastructure in order to continue their growth in the peak trading period of 2021.
Mike Hancox, CEO of Yodel, had the following to say, “We are using technology to get smarter; our customer service is improving thanks to a more integrated approach to technology, and this is helping to reduce our operational costs. Just as importantly, it’s supporting us on our environmental journey too. We’re using less fuel as a result of driving more efficient routes, and our work with SmartDrive has helped us analyse driver behaviour and push for improved efficiency. In all, the figures for Q3 reflect the positive work that the business has undertaken as we continue to progress. We’re investing in technology, capacity growth and efficiency improvements and it’s rewarding to see these come to fruition.”
Source: Yodel
