Business Post – Pre-Close Period Trading Update
Business Post Group plc today issues the following pre-close period trading update for the six months ended 30 September 2007.
Group revenues for the first half of the financial year increased by 9% on the equivalent period last year. As previously announced, the Parcels contract with Federal Express terminated on 30 April 2007. Excluding the revenues from this contract, the underlying revenue increase was 15%.
Excluding revenues from FedEx, parcel revenues are in line with last year. Good growth in the B2B market has been offset by a decline in B2C. As we have previously indicated, the B2C parcels market is becoming increasingly competitive, which is impacting Parcels margin growth in the current year.
Our mail business, UK Mail, continues to achieve strong growth with revenues in the period up by some 60% on last year. We continue to win a significant number of substantial contracts.
Revenues in Specialist Services are broadly in line with last year.
Interim results for the six months ended 30 September 2007 will be announced on 14 November 2007.
