Connect Group Parcel Freight revenues up 5%

Connect Group has announced that its total group revenues for the 20-week period up to 21 January increased 0.2% compared to last year – and Parcel Freight revenues grew by more than 5%. In the News & Media division, News total revenues decreased by 2.6%, and like-for-like revenues decreased by 2.3%.

The company added that its “ongoing cost efficiency programme facilitates continued investment in Pass My Parcel”.

Media total revenues increased by 8.7% while like for like revenues increased by 6.0%.

Parcel Freight revenues increased by 5.2% in the period. Connect Group said that it “continues to make a sizeable investment in the Parcel Freight division, to establish a platform for growth through sales leadership, customer service and operational excellence”, adding that it anticipated a greater percentage of Tuffnells’ full year profit to be generated in the second half than was the case last year.

The Group will announce its interim results for the six months ending 28 February on 25 April.