TNT UK saw its finances tumble into the red last year following the loss of a major contract, posting a £6.4m loss just a year after it quadrupled its pre-tax profit. In a year that saw it cut staff numbers and make managers in a number of departments redundant, TNT’s financial accounts for the year ended 31 December 2013 showed that it turned a £13.8m pre-tax profit into a £6.4m loss. The loss of a key contract with a major […]
UK Mail has renewed its contract with the Royal Bank of Scotland (RBS) after what it described as a “competitive tender process”.
Glasgow haulier John G Russell (Transport) has warned the distribution sector of a “difficult” 12 months ahead as costs keep rising while rates and profit margins continue to stagnate. Alan Poulton, chief executive, logistics at the group, told MT the firm was finding it increasingly difficult to squeeze further efficiencies out of its operation and said that, in terms of rates: “We are not getting, and have not got for some time now, an increase that reflects the quality and […]
TNT UK’s pre-tax loss ballooned to £22.1m last year ahead of its acquisition by FedEx Corporation in May 2016.