STOCK WATCH

SIGNING contracts with River Island, M&S and Asos over the last year has not helped warehousing and delivery firm Clipper Logistics from releasing disappointing results.

Shares tumbled 21.7pc, or 88p, to 317p as the firm revealed revenue was up 17.6pc to £400.1m and profit climbed 14.6pc to £14.3m. The numbers were some way short of what analysts had expected. Clipper’s executive chairman Steve Parkin, however, said he remained confident in the future.