Global logistics platform fulfilmentcrowd reports profit acceleration and positive trading outlook

Global logistics platform, fulfilmentcrowd, has posted record revenues for FY24 and reports strong H1 FY25 trading.

In the year ending 31 March 2024, the Lancashire headquartered tech company recorded revenue of £17.4m, up 23 per cent year-on-year.

22 per cent of group turnover was generated by its international subsidiaries in Germany and the USA, representing a 37 per cent increase on FY23.

EBITDA also doubled over the previous year to £1.7m, with strong cash conversion generated from operations.

With a global network of centres and more than 6.6million items shipped through its platform, fulfilmentcrowd helped over 250 high-growth omnichannel brands compete in international markets during the year.

Activity in the health and wellbeing sector was particularly buoyant in FY24, with 109 per cent year-on-year revenue growth.

Jon Davies, chief financial officer at fulfilmentcrowd said: “The directors are pleased with the excellent trading and operational performance in the year as execution of its strategy has resulted in revenue growth, improved margin performance and cash generation.

"In FY24 the business was able to execute its new customer acquisition strategy that is focused on a premium value proposition”.

Chief Executive Officer, Lee Thompson said: "The financial results are testament to the strength of fulfilmentcrowd's strategy and the talented team delivering it.

"We are demonstrating that the platform and unique operating model drives customers' cross-border growth and creates shareholder value.

"Building on this result, we will continue to invest in our people and platform to deliver best-in-class solutions for high-growth omnichannel brands”.

Davies added: “The technology and operational processes have been continually enhanced to ensure we were able to manage volume growth from our customer base without impacting service levels.

"This was supported by the rollout of additional network partner sites in the UK and USA taking our global warehousing footprint to over 1.5m sq ft”.

In the current financial year, the business has already secured new customers across all territories, with annual contract value in excess of £3.5 million.

Davies added: “The annualised impact of these new customer wins as well as customers onboarding early in the new financial year provide us with confidence in a further improved performance for FY25”.

FY25 promises to be another strong year of progress with improved margins on forecast revenues in excess of £20m and new warehouse locations in Australia and Republic of Ireland being added to the platform.

Thompson added: “We are committed to financially supporting research and development of the platform which runs a global network of fulfilment centres and enables customers to manage their products, stock levels, purchasing, sales orders and deliveries.

"During the past 12 months, new best-in-class solutions have been successfully launched, including the Service app which ensures consistent standards across the network and Delivery Assured, a consumer experience platform supporting timely responses and consumer resolutions for complex parcel delivery queries”.

fulfilmentcrowd’s board recognises the importance of ESG, which is a key component of its growth strategy.

The company’s unique operating model not only supports customers’ expansion goals, it also enables them to grow in more sustainable ways.

By realising the potential of sharing economy principles through its software technology, fulfilmentcrowd opens access to underutilised warehousing infrastructure across the world, creating a sustainable, profitable and high-performance operating environment.

Benchmarking its carbon footprint and providing contextualised GHG data to customers to help reduce the impact of their activities.

Thompson said: “The board are confident that the actions taken have setup the business to execute its future growth plan and are pleased with trading in the early part of the new financial year which is outperforming budget”.

For more information, visit https://www.fulfilmentcrowd.com/