City Link parent Better Capital has revealed it will inject more money into the the parcel carrier in a bid to turn the loss-making business around. City Link narrowed its deficit by 40% in 2013, posting a £21.1m pre-tax loss (2012: £35.9m loss). This came despite a 10% decrease in turnover from £321m in 2012 to £289m in 2013, as it moved away from loss-making contracts. The company described the results for the year to 31 December 2013 as a […]
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.
Connect Group has seen its annual profit collapse by more than 200% after a calamitous period, which saw its one time star-performer Tuffnells lose its way and attempts to restructure the group hit the wall.
City Link will need to improve account management and customer service if it is to become profitable again, analysts said, following its sale to private equity investor Better Capital.