Business Post Group reveal revenue growth
Business Post Group announced that group revenues for the financial year, ending 31 March 2009, increased by some 7% on the previous year.
Business Post Group announced that group revenues for the financial year, ending 31 March 2009, increased by some 7% on the previous year.
Revenues in the second half year were down slightly on the previous year, primarily reflecting the effects of the difficult economic environment. Mail growth moderated from the very high levels previously achieved, but the business has continued to win new contracts with both existing and new customers.
Despite this slight reduction, a Business Post Group statement read: “We believe we are outperforming the markets in which our businesses trade, and are therefore gaining market share. Our operations continue to achieve high levels of efficiency which have enabled us to reduce our operating costs, more than offsetting the profit impact of the lower revenues.
“As a result we expect that profit before tax (before exceptional items) for the year ended 31 March 2009 will be somewhat above market expectations.
“We have carried out a review of our operations in order to reduce the fixed cost base across our network. This review will result in exceptional costs for the year of some £1.2m relating to depot closures, vehicle fleet and staff reductions, but will generate significant savings going forward.”
Business Post Group plc will report its preliminary results for the year ended 31 March 2009 on 21 May.
