Parcel service delivers first ever profit thanks to lockdown boom

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Parcel service Yodel has delivered its first ever profit as lockdowns spurred demand.


There was a 31% increase in revenues in the year to July 2021 to £563 million.

And while demand slipped in the six months to the end of 2021 by 1.6%, this was still up 22% on two years previously.

During that time Yodel created a total of 4,311 new roles across its UK network. It has also invested £13.25 million investment in its fleet.


Mike Hancox, CEO of Yodel, said: "We have recorded a strong performance in H1 FY22 and, thanks to our people's resilience and the business' flexibility, we have achieved significant growth since the start of the pandemic in 2020.

"The first half of FY22 has demonstrated that despite ongoing uncertainty caused by Covid-19, demand for ecommerce and doorstep delivery services remains as strong as ever and that Yodel is perfectly positioned, and prepared, to cater to changing customer needs.

"In the coming year, we expect to see the greater integration of technology into delivery service business models to improve customer experience across the industry, increasing the efficiency of supply chains to handle larger volumes, as demand for online shopping continues to grow."

The company was a rebrand after the billionaire Barclay family bought the logistics firm DHL's parcels unit in 2010.