Securicor distribution arm sees fall in next day traffic

Securicors 50% share of the distribution operation which it jointly owns with Deutsche Post, increased its turnover from £331.8m to £338.9m for the year ended 30 September. But profit only nudged ahead from £6.0m to £6.1m.
The company said next-day traffic, which accounts for 70% of its Omega Express business, was affected by lower volumes in the fourth quarter while IT investment costs also hit profits. Office products and luxury goods remained stable, but a marked decline, was noted in shipments of telecoms and electronics goods.
Good progress was reported in Europe and the Omega Logistics business saw an improved second half profit performance thanks to contract renewal at realistic prices.