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Yodel: significant improvement and a bright future

Yodel Parcel volumes grow and customer experience improves as transformation programme gains pace

Significant improvement continues to be made at Yodel with a focus on improving service quality and most importantly in enhancing customer experience. The cutting-edge 'Have Your Say' customer survey has received over a million customer reviews since being launched in March 2013. In the last 18 months customer satisfaction has increased by 33 points and Trustpilot ratings have improved from 0.9 to 6.7. Yodel also won the coveted customer care award at the CCA Global Excellence Awards in conjunction with Felicitas Media.

The company also reports an EBITDA improvement in excess of £40 million for the year ended 30 June 2014 with the rate of improvement continuing into the current year signalling positive EBITDA in the near future.

Yodel has grown strongly, with current like-for-like growth in parcel volume running at 13%. This is the result of new account wins, often referrals, strong client retention and increased parcel volumes from existing clients. Many of Yodel's account wins have been returning retailers; testament to increased confidence in service. Investment has been made in the operational capacity of the business. Two new service centres have been opened in Selby and Northampton and upgrades have been made to a number of the company's existing sites, sorting centres and fleet.

Neil Lloyd, Yodel's Chief Executive Officer, commented: "The significant improvement in customer experience of recent years continues but we are not complacent and we are constantly investing to make our customers' experience a better one. It is very pleasing to see another year of huge improvement, achieved with the support and hard work of the whole Yodel workforce, our self-employed couriers and drivers. We benefit from improvements in consumer confidence but we are also taking market share, and, therefore, growing at a faster rate than the parcel volume in the market."

Yodel's Executive Chairman, Dick Stead, added: "The UK parcel market remains a highly competitive place; however, following the demise of City Link, we expect to see capacity issues in the wider market. In particular around specific peak demand days resulting in increasing prices for guaranteed next day parcels."

"Yodel's management and its shareholders remain absolutely focussed on developing a parcel business with a profitable long-term future, by providing great customer experience at a great price."

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