Trading Update – H1 FY23 (July– December 2022)
February 2023
Summary – Growing investment with record volumes achieved
Financial highlights
• Overall increase in volumes across peak season (Week 18-26; Nov – Dec 2022) of 17% compared to the same period in 2021
• Overall C2C volumes for H1 FY23 increased 162% YoY
• Increase in parcels delivered via pedal power of 33% for peak season YoY through multiple cycling partnerships
Strategic and operational highlights
• Announced plans to open a brand-new 161,900 sq. ft depot in Huyton, due to open Summer 2023
• Invested over £7.5m into fleet, with 100 new trailers and 60 additional tractor units, with 45 of those units featuring enhanced features such as larger windscreens for better visibility, greater fuel efficiency ensuring their compliance with upcoming VET legislation
• Entered new client relationships with Holland & Barrett, eBay, Vinted, Zalando, and Boden
• Liam Rogan appointed as dedicated Out of Home Director, responsible for Yodel’s pick-up, drop-off operations
• Invested in streamlining the customer website and mobile app to align customer journeys to improve customer experience
• Continued investment in technology and colleague training to further enhance our customer service. This includes extended development of the customer facing app, with new features such as a two-hour delivery window for every parcel delivered to a door and delivered images implemented. Consequently, the time taken for first time resolution of customer queries has fallen by almost 50% with 2.7 million downloads of the app since its relaunch in 2021 and consistently high user ratings
• Yodel has continued its commitment to being a Forces Friendly Employer by renewing the partnership with Walking with the Wounded and raising over £24,000 to date
Mike Hancox, CEO of Yodel, commented: “FY23 has seen Yodel continuing to build on the strong results we have seen over the last two years, with more new client wins. The success of our peak season was fuelled by the spike in consumer-to-consumer parcel volumes through Yodel Direct and is testament to the tireless work of our colleagues across the country.
“Over the past year, to service our growing demand, we’ve made significant investments in our fleet. This has provided greater efficiency and a safer and more sustainable service. We’ve also announced brand new sites, including Huyton, Merseyside, to bolster our operations and build capacity into our nationwide network and announced our Head Office relocation to Speke, Liverpool. Finally, we continued to enhance our customer service offering by updating our customer app to provide more transparent communications throughout the delivery journey.”