Hermes Parcelnet reports almost £750 million turnover

Hermes Parcelnet reports almost £750 million turnover

Hermes Parcelnet has reported a turnover of £749.5 million for the year ending 28 February 2019, up 12.6 % from £665.6 million in 2017/18.

The profit for the year, after taxation, was £29,303,000.

The company says the figures reflect “sales volume growth of 10.7% additional premium rate service offers, such as International deliveries and an increasing levels of premium next day traffic”.

Also a “full range of large retail clients and smaller business have been added to the client roster in the last 12 months.”

To facilitate this growth the business says it continues to invest heavily in both its core IT platforms and develop new applications such as safe place photos, GPS matching of delivery addresses, and optional route optimisation on hand held terminals to aid our couriers in providing an enhanced service to clients and consumers.

The company also agreed a deal with the GMB in February 2019 to offer final mile couriers the option of a new ‘self-employed plus’ model of working. This offers couriers the potential for union recognition, to receive paid holiday, and guaranteed rates of pay.

The directors added that they “remain confident that the growth in previous years will continue in the year ahead, as the business continues to invest in future development”.

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