UK Pallets, the pallet network owned by UK Mail Group, was rocked by a 64% collapse in year-on-year profits in the year to 31 March, its parent company has revealed. UK Mail Group warned in April that its pallet business, which contributes 6% of its total revenues, had experienced a difficult year. This saw Graeme Wilson replace Terry Richards in the top spot in March at the network, which saw its profit head south due to gaps in its coverage […]
UK Mail has secured a 231,000ft² plot of land in the West Midlands to develop its new hub.
Fortec has launched a corporate division as it looks to expand its reach with larger, national customers and attract more “blue-chip” clients to the network. The Daventry-based pallet network says the new division was necessary as national and international accounts often require too much funding upfront for individual network members to be able to take on. Neil Hodgson, Fortec MD, says: “This type of business is beyond [most members’] reach in terms of financial risk and scale. However, through bringing […]
TNT Express said it does not expect to see the full benefit of its profit improvement strategy until 2018-19, as it admits it did not acheive the turnover and profitability it expected in 2014.