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spygirl

Tax credit company of 2018 - Clipper Logistics

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Been watching this for a while, trying to suss out the business.

On initial examination its just a logistics company.

https://www.yorkshirepost.co.uk/news/analysis/the-inside-story-on-steve-parkin-s-lavish-leeds-penthouse-1-9138888

One these types:

'A former miner turned lorry driver who left school with no qualifications, Steve Parkin is every inch the self-made man.'

A business genius:

“The money is in breeding racehorses,” he says. “The aim is to create a dynasty and be as successful as Juddmonte.”

Yeesssssssss.

Connection to another Yorkshire moron/crook/idiot:

'Small of stature with a cheeky charm, he thinks big, which is why he recently moved the Clipper plc HQ to a spectacular penthouse in Leeds city centre. The fit-out alone cost £3m and it is designed to feel like a home-from-home. It is on a prime plot of land on Wellington Street that was once destined to give rise to Lumiere, the biggest skyscraper in Europe.'


Basically, its a logistics company that handles clothing returns.

https://www.thebusinessdesk.com/yorkshire/news/2024231-stellar-year-for-retail-logistics-firm-as-revenues-top-400m

 

https://www.clippergroup.co.uk/about-us/logistics-evolved/

It got a leg up with ASOS - it handles the returns, tidy, washing repackaging.

How does it do that? Glass door is always good

https://www.glassdoor.co.uk/Reviews/Clipper-Logistics-Reviews-E413769.htm

 

'Pros

Some work is very easy. Supervisors want you to stretch the day out.

Cons

If your not Romanian and not accident prone look else where.

Advice to Management

Try and keep the staff that can do the job not your friends and family from back home'

Basically, its (not) paying EEers to process clothes,  using a massive transfer of tax credits/benefits.

 

 

 

Edited by spygirl

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https://www.insidermedia.com/news/yorkshire/clipper-turnover-tops-400m

Turnover has grown to more than £400m in the full-year results for Leeds-headquartered Clipper Logistics, with earnings up by almost 15 per cent, following two strategic acquisitions and a series of contract wins.

The listed group reported turnover of £400.1m for the year ended 30 April 2018, up 17.6 per cent from £340.1m in 2016/17.

Group EBIT increased by 14.6 per cent to £14.3m, from £12.5 m, with pre-tax profit rising to £18m from £16.1m the year before.

 

Well, considering they whole org will be a massive debt junkball, EBIT of 14m - about ~2%  'profit'. You can ignore the profit, they'll be inflating assets prices.

Total. Fucking Junk.

Thos numbers make those gormless hill-billies at Eddie Stobart look good.

https://www.clippergroup.co.uk/wp-content/uploads/2019/09/Clipper-Annual-Report-2019-FINAL.pdf

The photo and highlight statements are fucking insane.

I am pleased to present the report of the Nomination Committee for the year ended 30 April 2019.

 

In this report, I explain how the Committee has discharged its responsibilities to protect shareholders.

The Committee hopes it can rely on the support of shareholders to approve our Directors’ Remuneration Report.

 

 

 

Quick look at the accounts shows its sucking up  cash.

Directors are scamming the business for cash, replacing it with debt.

 

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Ah I've always wondered how the online returns were done for clothing. I just assumed they binned them.

Do Clipper then sell them on, or hand back to original company ?

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5 minutes ago, spunko said:

Ah I've always wondered how the online returns were done for clothing. I just assumed they binned them.

Do Clipper then sell them on, or hand back to original company ?

I suspect Clipper does a very quick quality check, then ships them to Africa.

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10 minutes ago, spunko said:

Ah I've always wondered how the online returns were done for clothing. I just assumed they binned them.

Do Clipper then sell them on, or hand back to original company ?

Quick spray with 'stinky muff be gone' and back in the plastic.

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OK, I know Endole charts are a bit simplistic. But they are very good for a very quick  check.

Junk, no margins business.

https://suite.endole.co.uk/insight/company/03042024-clipper-logistics-plc

No matter how much business they do, they dont make any fucking money.

Almost the same as Stobbart

https://suite.endole.co.uk/insight/company/00995045-eddie-stobart-limited

 

Yet the clipper boss has been spending likes hes fucking Steve Jobs.

https://www.yorkshirepost.co.uk/lifestyle/homes-and-gardens/inside-story-steve-parkins-lavish-leeds-penthouse-1762152

Look the fuck at me! Im a buzzynessman! And Ive no o levels. See you can be successful even if you are thick!

 

Both share prices so the same pattern - up on the bullshit, down on the reality.

 

 

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1 hour ago, spunko said:

I'm just surprised there isn't a business reselling returns to customers ie buy returned clothes. Most have only been worn once...

@201p let's do a startup!

They sell them as job lot/pallet auctions normally via online auction ,,,pennies in the pound 

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5 hours ago, spygirl said:

https://www.bbc.co.uk/news/uk-england-nottinghamshire-52092268

I was right about the SP.

~400p at my  first post.

140p today.

A brick laden swallow....

I need to have more money on my convictions - or at least finding someone willing to short.

 

I call bollocks on this. Your first post was midday on 30th July when the price had already crashed after they published their results. So closer to 300p at your first post and 317 at the end of that day. And the price was 280p just before the Coronovirus crash.

You are crediting yourself with the period prior to your prediction and/or the Coronovirus crash.

 

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2 minutes ago, billfunk said:

I call bollocks on this. Your first post was midday on 30th July when the price had already crashed after they published their results. So closer to 300p at your first post and 317 at the end of that day. And the price was 280p just before the Coronovirus crash.

You are crediting yourself with the period prior to your prediction and/or the Coronovirus crash.

 

Id been looking at the company  for a couple of years before, trying to work it out.

The YP article is April 2018, which is when I took a very bearish view.

The YP article coincided with the dip at the start of 2018. After that the SP recovered, before falling again end of July.

 

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Outside, a grim-looking terrace has been turned into an outdoor room with a living wall full of plants and a butterfly hotel.While the whole place, inside and out, is aimed at impressing corporate guests, they may not realise that the toilet brush in the bathroom cost £500.

Steve chose that and admits that the cost-benefit analysis may reveal a non-profitable extravagance but the penthouse art collection should make up for it.

It was bought with re-sale values in mind. Emma worked with a dealer in London and Steve had the final say. He loves David Hockney’s work and is buying some of the artist’s iPad drawings. Above his desk are pictures by an up-and-coming Polish artist, which have already risen in value. They depict football violence and remind him of matches in the 1970s.

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3 minutes ago, spygirl said:

Id been looking at the company  for a couple of years before, trying to work it out.

The YP article is April 2018, which is when I took a very bearish view.

The YP article coincided with the dip at the start of 2018. After that the SP recovered, before falling again end of July.

 

It's a pity you didn't post your prediction in April 2018 then. Because by the time you posted the fall had already happened for the most part.

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2 hours ago, eek said:

I suspect Clipper does a very quick quality check, then ships them to Africa.

They are just refolded and placed back in the wrapper and then sent back through goods in.

I've worked for Royal Mail in one of their distribution warehouses and at the time they had Spectrum for Arcadia (top shop , miss selfridge etc) returns going through it , 100 cages a day of returns which Arcadia were offering free to their customers , but Royal Mail were billing them £3.60 each parcel. Took 2 of us 8hrs a day to scan all the parcels and reload them on the trailer.

 

Unsustainable for Arcadia , nice money spinner for Royal Mail.

 

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