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Trading statements

UK Mail sees underlying FY pretax profit in line

06 April 2016 07:24

UK Mail Group said its FY pretax profit before one-off exceptionals is seen in line with management views, but that revenues are expected to be down 1%.

"Overall revenue growth has been impacted by a continued mix effect in our Mail business which is expected to result in a revenue decline for the year of some 3%, despite Mail volumes for the year being up some 5% on the previous year," the company said.

"Our Parcels business is expected to achieve volume growth for the year of some 4%. Volume growth in the fourth quarter has suffered in comparison to last year due to the spike in volumes in the comparative period as a result of the demise of City Link," it said.

"Service levels in both our Parcels and Mail businesses remain at high levels. Our new automated hub continues to operate well and to achieve good throughput levels.

"We are making further progress with our plans to improve the efficiency of our network in markets that remain highly competitive.

"The Group remains in a sound financial position."

Story provided by StockMarketWire.com

Related Company: UKM

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