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 family-run distribution business has helped secure the future of its workforce by joining a new network dedicated to the movement of hazardous goods throughout the UK. Total Logistics Products (TLP) employs 32 workers at its headquarters at the Lymedale Business Park, Newcastle. The firm jumped at the chance of joining the new Hazchem Network, which has been created to respond to a growing requirement by major chemical companies, which have been looking for a fast, efficient and cost-effective way of collecting and delivering products in smaller quantities more frequently. The Hazchem Network will initially consist of 20 members, all of whom have extensive experience of moving hazardous goods on pallets safely throughout the UK.
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 MorePostwatch gave evidence to the Trade and Industry Committee earlier today.
Postwatch, the consumer watchdog for postal services, welcomes the timely
inquiry by the Trade and Industry Committee into the future of the Crown
Office Network and looks forward to helping the Committee with its work.
Giving evidence Peter Carr, Chairman of Postwatch, said: “I am delighted the
Trade and Industry Committee is continuing its interest in the future of the
555 remaining Crown Post Offices. “These Offices are very important to customers. Whilst they represent less than 4 per cent of the post offices in the UK they transact over 25 per cent of all post office business and 7 million customers visit them each week. No Crown Office closures should be proposed until the Committee’s findings are known and a comprehensive strategy is in place.
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