Hermes UK has reported revenue growth of 68.8 per cent to £1.46 million and growth of 232 per cent from 2020 in its latest Companies House filing.
This places the parcel carrier fourth in the UK couriers market, with only Royal Mail, DPD UK and DHL coming in higher.
Hermes UK doubled its operating margins from 6.2 per cent to 12.1 per cent and also doubled the size of its courier network from 13,000 to 26,000 to handle peak volumes.
In addition, the courier invested in its customer-to-customer business via its network of parcel lockers and drop off/pick up locations across the country.
The company has also developed its self-employed plus programme, working with drivers’ unions to guarantee a minimum income and other benefits to employees.
The significant growth in revenues and margins is a result of the boom in e-commerce during the pandemic.
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The courier delivers more than 640 million parcels a year on behalf of European retailers and has an estate across the country of 6,000 ParcelShops and InPost lockers.
“In parallel to our Covid response, we have continued to develop the business and further improve our customer offering with a focus on new products development and ongoing technology enhancements,” Hermes UK directors said in a statement accompanying the results.
“Coupled with our flexible and scalable operating model this has allowed us to add new blue chip clients to the roster, increase our share of wallet from existing clients and successfully grow in new markets, particularly inbound volume from China for delivery to UK consumers and peer to peer deliveries through partnerships with online market places such as Vinted and Depop.
“This has been accompanied by further progress in enhancing the UKs only union backed self-employed courier network which provides paid holidays and guaranteed national minimum wage whilst still maintaining the flexibility on working patterns which are couriers value so highly under our Self-Employed Plus model.”