Connect Group reports interim results
Connect Group has reported adjusted interim revenues of £911.8m and profit before tax of £232.3m for the six-months up to 28 February – which were respectively down 0.6% and 4.8% on the same period in the previous year. In a statement issued today (25 April), the Group said that the highlights included the performance at its Pass my Parcel business, which has seen new returns services with Amazon and French Connection; and a contract with UK Mail for returns and ‘failed household deliveries’, expected to go live in the second half.
Revenue for the Parcel Freight division was up to £86.6m from £82.4m, but Adjusted Operating Profit was down to £4.3m from £5.0m.
Mark Cashmore, Group Chief Executive, commented: “In line with our plans to focus the Group’s investment on the two larger divisions, the proposed sale of Education & Care is an important milestone in our strategy. The resilience of News & Media and revenue growth in Tuffnells has underpinned our overall performance, allowing for continued investments to drive growth opportunities.”
Click here to view the full statement.
