UK Mail results “satisfactory”
UK Mail Group has described its half year results as “satisfactory”. Guy Buswell, UK Mail’s chief executive, said trading performance for the period continued to be in line with management expectations.
Group revenues showed an increase of 1% compared to the same period a year ago, for the half year ending 30 September 2010.
Buswell said: “Our Parcels business continued its revenue growth in the first half. As usual, we expect that the final three months of the calendar year will represent the key period for parcels volumes. The launch of our Retail Logistics service within this division is making good progress.
“Mail revenues increased slightly compared to the same period last year. As previously indicated, we expect revenue growth in our Mail business to be weighted towards the second half of the financial year as the impact of new customer wins and growth in Packets, together with additional volumes from some existing customers, more than offset the overall decline in transactional volumes in the UK mail market.”
Buswell added that the company’s Courier business has continued to grow its revenues, whilst its Pallets business has shown resilient performance in a market that remains challenging.
