The operating loss at Yodel Delivery Network increased to £111.8 million for the year to 30th June 2018 from £81.9m the year before.
Revenue was down from £409.8m to £403.4m, according to the company’s annual results.
The EBITDA loss before exceptional items £42.7m compared to a loss of £26.9m the year before.
The directors report said: “The directors are naturally disappointed to report a £15.8m deterioration in EBITDA compared to the prior year, which was primarily driven by a volume shortfall caused by client losses that were only partially offset by new business; this trend has now reversed.”
Looking ahead, it said the UK packets and parcels market continues to enjoy strong volume growth driven by the increasing shift in consumer demand for on-line shopping.
“There have been tangible improvements in service over the past year as evidenced by recognised industry metrics such as Trustpilot,” it said.
“The expansion of “Click and Collect” shopping also continues to be a focus for Yodel, principally through the use of the Collect+ brand which Yodel co-owns.
“The company continued to invest in improving the quality of its service centres and Yodel is progressing with significant investment in an upgrade of its IT systems and infrastructure and new product development.”
