Full Chairman’s Statement: I am pleased to announce a 12% increase in profit before goodwill amortisation and tax to £9.1m. These results continue to deliver progress in line with the Group’s Three Year Plan. The successful launch of UK Mail, and the continuing fast rates of growth in the HomeServe, Courier, International and UK Pallets businesses, are particularly pleasing.
Read MoreBusiness Post announces continued progress in line with the Group’s Three Year Plan. The successful launch of UK Mail, and the continuing fast rates of growth in the HomeServe, Courier, International and UK Pallets businesses, are particularly pleasing. Turnover increased by 23% to GBP109.9m and profit before goodwill amortisation and tax was up by a satisfactory 12% at GBP9.1m. The traditional second half bias is expected to be slightly more pronounced this year as a result of the Group’s newly-launched mail activities. Profit before tax was GBP8.8m and net cash inflow from operating activities increased to GBP8.3m from GBP6.0m. Peter Kane, Chairman, stated “The Board believes that the Group already contains the elements necessary for further substantial profitable growth, not only in UK Mail but also through its other businesses, which are collectively capable of driving double digit percentage growth. The Group’s strong financial performance and excellent cash flow characteristics place the Group in a good position to continue investing in new products and services and create further differentiation from its competitors.
Read MoreA rival business to Royal Mail was today on course to move into profit less than a year after leading the break-up of the UK postal monopoly. UK Mail has shifted more than 23 million items since its launch in May and has set its sights on capturing 3% of the UK mailing market – estimated to be worth GBP5 billion a year. The service was set up by Slough-based parcels group Business Post after regulator Postcomm gave companies the right to enter the UK market in 2003. UK Mail collects post from customers and processes it through its network of 64 sites – the largest of which is in Birmingham – before passing it on to Royal Mail for delivery by local postmen. Peter Kane, chairman of Business Post, said UK Mail had made a “highly satisfactory” debut and was expected to become profitable in the six months from the start of October.
Read MoreFund managers have been reassessing their holdings of Business Post Group in recent days. The principal reason is the expected demerger of DX, the mail company, from Hays, the recruitment consultancy, at the beginning of next week.
DX has been canvassing support among institutions, with many fund managers coming away impressed, supporting the view that they might be interested in switching parts of their holdings.
One of the UK’s largest express delivery companies is petitioning the Manx government to remove the monopoly currently held by Isle of Man Post.
Business Post, the fourth-largest operator in the UK, has secured a licence from UK postal regulator Postcomm to compete with the Royal Mail. Now it is hoping to do the same on the Island by persuading the Department of Trade and Industry to allow it access to the entire postal market. Current legislation prohibits any other company from collecting and distributing individual items of mail less than GBP4 in value. This means that the majority of letters posted are dealt with by IoM Post, including business mail.
Read More
Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.
