Turnover up but profit down at UK Mail


 

UK Mail has revealed a pre-tax profit of £12.9m for the 12-months ended 31 March, down 19.5% on the previous year mainly due to a £2.2m hit from closure of four depots. Group turnover for the year was up by 8.4% to £429m, however, when adjusted for the increase in Royal Mail prices implemented on 6 May 2011, revenue increased by just 3.2%. The company says the results reflect UK Mail’s resilience during a year of tough trading in markets […]