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Hermes sees UK revenue boost

Hermes UK says it has seen a 6% boost in revenue to £211.5m for the financial year 2010-2011, resulting in a profit of £17.5m.

The home delivery firm says investment in systems and “operational innovation” has resulted in an improved profit margin, and it predicts further sales growth of 20% in the next 12 months due to a number of new contract wins.

Carole Woodhead, CEO at Hermes UK, says: “Throughout these challenging economic times, Hermes has continued to buck the trend and has invested wisely in the right technology and people to support new services that retailers and their customers want. As a result, our new business pipeline remains robust.”

Hermes has recently won a 60,000 parcels-per-year contract with shoe retailer Cloggs, as well as extended an existing partnership with catalogue retailer Scotts & Co, which will see it handling around 2.2 million home delivery items per year for the business

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