UK Mail has come under fire by MEP for the North East region Jude Kirton-Darling over claims the business forced drivers to take a pay cut and dismissed 20 drivers who refused to sign the new contract. In a letter to UK Mail CEO Peter Fuller last week, Kirton-Darling accused the company of “unacceptable treatment” of its workers and of “flying in the face of [its] ethical and corporate responsibility”. The letter was prompted by a new contract UK Mail […]
The success story of the first half of the year, without doubt, is UK Mail. It simply, absolutely, will not stop, moving parcels with volumes up 25% in the first quarter year-on-year. If you had bought a share in the firm in January, it would have set you back 365p (giving the firm a market capitalisation of £199m). If you would buy one today it is 580p (giving UK Mail a market cap of £319m). That’s a share price rise […]
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 […]
Transport firms are riding the current Stock Market bubble. This week the FTSE 100 hit its highest level since October 2007 (6,755 on Monday to be precise). While none of the six operators in the MT Tracker basket of transport shares are anywhere near making the FTSE 100, or the FTSE 250 for that matter, the total value of the basket hit a record high today of 1,842.