Logistics platform Fulfilmentcrowd has celebrated record revenues of £17.4m for 2024 thanks to strong growth at its international arms.
The Chorley company, reporting for the year ended March 31, saw revenues rise year-on-year by 23%. Its international subsidiaries in Germany and the USA saw strong growth, and now make up 22% of their group turnover. The company also stated its EBITDA doubled in the last year to £1.7 million.
Fulfilmentcrowd is a global network that provides software to companies selling products to the online consumer. With its platform shipping more than 6.6 million items, fulfilmentcrowd’s software helps over 250 brands in the online international market.
The tech company now expects a strong H1 of trading for FY25 with “Improved margins on forecast revenues in excess of £20 million” and plans for new warehouse locations in Australia and the Republic of Ireland.
Jon Davies, Fulfilmentcrowd’s chief financial officer, 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.
“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 Ƶ and USA taking our global warehousing footprint to over 1.5m sq ft.”
CEO Lee Thompson said: "The financial results are testament to the strength of Fulfilmentcrowd's strategy and the talented team delivering it. 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.”
Within their current financial year, the company secured a variety of new customers, with an annual contract value in excess of £3.5 million. Mr Davies said: “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.”
Mr Thompson added: “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.”
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