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UK Mail Annual Revenue To Decrease But Profit To Meet Expectations
LONDON (Alliance News) - UK Mail Group PLC on Wednesday said it expects revenue to decline slightly in its financial year that ended March 31, but with pretax profit set to be in line with its expectations.
UK Mail said its anticipates revenue for the financial year will fall by around 1.0%, hit by a continued mix effect in its Mail business which will result in revenue for that arm falling 3.0%, despite volumes rising 5.0%.
The Parcels business is set to see volumes growth around 4.0%, though growth suffered year-on-year in the fourth quarter from the comparison with the spike in volumes seen a year prior due to the collapse of rival City Link.
UK Mail said its automated distribution hub has continued to operate well, and it is making progress in plans to increase the efficiency of its network.
UK Mail will publish annual results on May 24.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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