Business Post Group: Pre-close period trading update
Business Post Group plc issued the following pre-close period trading update for the year ended 31 March 2008.
Group revenues for the financial year increased by 10.1pct on the previous year. Excluding the revenues from the FedEx contract, which terminated on 30 April 2007, underlying Group revenue increased by 16.5pct.
The company continues to see good growth in the B2B parcels business which represents around 80pct of parcels revenues. In B2C, which represents 15pct of the parcels business, the company is seeing an improving trend of performance.
Revenues in our Mail business, UK Mail, increased by some 50pct on the previous year, derived from both new contract wins and substantial further business from existing customers. The company claims to handle some 10pct of all mail collected in the UK.
Revenues in Specialist Services are now recovering with the fourth quarter showing growth.
The courier business, now trading under the UK Mail brand, has recently won a number of new same-day contracts.
The Group has maintained strong revenue growth, both during the fourth quarter and for the year as a whole. The overall performance is in line with the Board’s expectations.
Business Post Group plc will report its preliminary results for the year ended 31 March 2008 on 21 May 2008.
