Connect Group has continued to enjoy growth in the first half of its trading year driven by its acquisition of Tuffnells Parcel Express in 2014.
Group revenue was up 4% for the 6 months ended 29 February 2016 to £948.4m (2015: £909.9m). Pre-tax profit rose 36% for the same period, from £14.1m to £19.2m.
Connect said strong financial performances - following a year of growth in 2015 - from Tuffnells and its media business were to thank for this.
Group chief executive Mark Cashmore said: “The group has performed well in the first half, making pleasing progress with our strategic priorities. In particular, Parcel Freight has continued to deliver impressive revenue and profit growth, supported by the significant levels of new business secured in the period.
“The solid performance of the core News business is underpinned by resilient newspaper and magazine sales and Pass My Parcel is growing brand awareness following the launch of our new mobile enabled returns service with ASOS."
The group also has a news and media branch, encompassing Smiths News (the company responsible for delivering 35% of the UK’s magazines and newspapers), Pass my Parcel, and Dawson Media Direct.
Connect said since the beginning of the year, Tuffnells had accumulated 400 new accounts with combined annual revenue of £5m.
For the six months ended 29 February, Tuffnells saw its turnover rise 12% on the same period last year to £82.4m. Its adjusted profit for the period rose 8% to £5m.
