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. In a trading statement to investors UK Mail said the closure of the pallet network would be managed over the next three months, as it sought to ensure that all employees and customers were properly supported. It added that a number of its employees would be able to take up […]
The basket of MT shares has only drifted northwards by 7p in the past seven days. But growth at the rate of a penny a day is a fair old shift for a traditionally quiet time of year in the road transport industry, indicating that there is a lot of sentiment backing the success of Britain’s transport firms.
UK Mail remains confident about its long-term prospects, and has now got a handle on problems at its new sortation hub that are set to have a significant impact on its full year earnings.
A lot has happened in the two weeks since the last MT Tracker, and today the government has revealed that it will begin selling shares in post and parcel operator Royal Mail within the next few weeks, adding another transport name to the companies listed on the London Stock Exchange.