fulfilmentcrowd reports record revenues against challenging ecommerce backdrop

International fulfilment services and tech provider, fulfilmentcrowd, has today reported its unaudited results for the financial year ending 31 March 2024, with annual revenues of £17.4 million, a 23% increase on 2023. A focus on productivity and efficiency gains made through technology investments, alongside a strong commercial proposition, has resulted in EBITDA doubling year-on-year.

The company’s focus on supporting high-growth omnichannel brands resulted in a 38% increase in transaction volumes, with over 6.6 million items shipped through the platform during 2024. Activity in the health and wellbeing sector was particularly buoyant, with 150% year-on-year revenue growth, overtaking fashion as its primary market.

fulfilmentcrowd’s global network of centres enabled the business to record strong export sales in the EU and USA, which accounted for over 20% of group revenue.

The company’s results are particularly notable against a backdrop of negative growth in industry-wide online sales (-4%) and flat order volumes (0.3%) over the last 12 months.

Lee Thompson, CEO at fulfilmentcrowd, said: “The financial results are testament to the strength of fulfilmentcrowd’s strategy and the talented team delivering it. We are demonstrating that our technology and unique operating model is supporting customers’ cross-border growth plans and creating shareholder value.”

To support year-on-year growth and drive opportunities across sectors, fulfilmentcrowd made numerous senior appointments across business development, marketing and finance over the last 12 months. It also opened two new partner centres in Lutterworth (UK) and Edison (New Jersey, USA) to better support its customers’ growth ambitions.

Lee added: “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.”

A core element of fulfilmentcrowd’s disruptive approach is its innovative use of existing warehousing capacity to offer fully-flexible, scalable and low-carbon logistics solutions. Backed by BGF – one of the UK and Ireland’s largest and most experienced growth capital investors – fulfilmentcrowd’s strategy for the next financial year will see it continue to champion agility, innovation and sustainability, with a particular focus on extending its presence to new territories including Australia and the Middle East.