Business Post Group – close period trading update
Business Post Group plc today issues the following close period trading update for the twelve months ended 31 March 2007.
At our interim results in November 2006 we said that we expected a much improved second half.
We are pleased to report that this has been achieved and expect to report revenue growth of around 18% in the second half year giving revenue growth for the full year of around 17% – primarily driven by the continued strong performance of UK Mail.
The exit from the FedEx Corporation contract is progressing satisfactorily. As announced on 6 February 2007, an exceptional cost of some GBP 1m will be incurred in the current financial year relating to contract exit costs. This will be offset by an exceptional gain of GBP 1m from a recent property disposal.
Good progress is being made in creating the platform from which the group’s strategy – to develop Business Post into the UK’s leading independent integrated postal group – can be achieved.
As a result of the above, the Board anticipates that the results for the year to 31 March 2007 will be in line with its previous expectations.
Preliminary results for the year ended 31 March 2007 will be announced on 23 May 2007.
