Turnover at UK Mail Group is ahead of expectations as its parcels business continues to post double-digit growth in the B2C sector.
In a pre-close trading update issued today (25 September) UK Mail said that reported turnover for the first half of the year would show a 7% year-on-year improvement – and even excluding for an extra three working days in the period, the increase was 4%.
Its parcels business continues to be the main driver of growth with average daily volumes for the half year “increasing by some 25%” compared to the same period a year ago. However this level of growth in the parcels sector is predicted to moderate in the second half of the year.
However turnover was down in its mail business, and its courier and pallet divisions declined slightly – which was “in line with expectations”.
The statement said: “Whilst we remain cautious about the strength of the economic recovery in the UK, the markets in which we operate continue to provide us with opportunities to develop and grow our business.”
Its full interim results will be published on 20 November.
