Business Post announces that Russell Hodgson, 56, responsible for Parcel
Services, will be leaving the Group on 30 September 2005, for health reasons.
His role, overseeing the Express, International and HomeServe business units and
Network Services, will be assumed by Paul Carvell, Chief Executive.
Business Post’s letter delivery division, which competes with Royal Mail in the partially liberalised UK postal market, is set to break even during its first year of trading, ahead of expectations. UK Mail is handling the equivalent of 250 million items a year following its launch last May and has almost 1 per cent of the market, Business Post said in a trading update. The service was set up by Business Post after Postcomm, the industry regulator, gave companies the right to enter the letters delivery market in 2003. The division’s progress will enable it to break even for the year to March 31, instead of incurring a small loss as previously expected.
Read MoreThere was a heavy thud in shares of Business Post today after it admitted profits will miss most City analysts’ forecasts.
Shareholders have enjoyed four years of almost unbroken share price rises at the courier group. The stock more than quadrupled on expectations of fat profits from the company entering the postal market and breaking up the Royal Mail monopoly.
But the revelation that group pre-tax profits for the year to 31 March will come in below the GBP21.5m expected extended the stock’s recent fall to 15percent, diving 38p today to 605p.
Read MoreBusiness Post proposes to announce its preliminary results for the year ended 31 March 2005 on Tuesday 17 May 2005 and today issued a trading update reporting expected increased turnover in Express, a reduction in turnover growth for Pallets and excellent progress for UK Mail. Business Post expects its turnover for the year ended 31 March 2005 to be in line with expectations but pre-tax profit (before goodwill amortisation) to be slightly below consensus market expectations of approximately GBP21.5m. The Board’s overall outlook for the year ending 31 March 2006 remains unchanged.
Read MoreDHL Freight has further strengthened its Business Development team with three new appointments reflecting an increased focus on the Contract Logistics and Pallet Network markets.
Kevin Bennett has been appointed as General Marketing Manager. Kevin will be managing, co-ordinating and implementing all of the marketing and communications activities alongside the central marketing function. He will be responsible for the marketing team based at the Birmingham Head Office which supports the logistics and pallet network businesses.
Kevin has gained extensive marketing experience having held a number of senior positions in the logistics and transport sectors including National Express and Business Post.
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