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 […]
UK Mail saw its profit tumble by more than 80% in the six months ending 30 September 2015, after its relocation to a new hub and “teething issues” with the facility’s technology.
UK Pallets is to close, after parent company UK Mail pulled the plug following years of poor profitability. The closure will cost UK Mail £1m, plus asset write-downs of £2m.