- Clipper Logistics updated its full-year guidance after winning two new contracts from high street fashion retailer River Island and outdoor retailer Mountain Warehouse.

'Together, these two new contracts will increase revenue by over £40 million on a full-year basis, and will be immediately earnings-enhancing from go-live. As a result, the Group expects to outperform current market expectations in the year to 30 April 2022 and beyond,' the company said.

The company said it had agreed in principle a new five year open book contract with River Island, to provide a comprehensive suite of logistics services at River Island's existing distribution centre in Milton Keynes.

This contract represented a significant extension of services, with Clipper set to provide a full range of logistics operations, including warehousing, distribution to high street stores, and e-fulfilment and returns management services. The new services were planned to commence in mid 2021.

Under the new ten year open book contract with Mountain Warehouse, Clipper would provide a full range of multi-channel logistics services for the Mountain warehouse business. The new contract was expected to commence in spring 2021.

At 10:07am: [LON:CLG] Clipper Logistics share price was 0p at 479.5p

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