UK Mail’s continued investment in its infrastructure, including the move from its Birmingham HQ to a new fully automated Ryton hub, resulted in a dip in pre-tax profit in the year ended 31 March 2015. In its latest results, the business saw group revenue climb 0.8% to £485.1m (2014: £481.4m), while pre-tax profit (before exceptional items) slipped 4.2% to £21m (2014: £21.9m). Exceptional items cost the business £11.3, including a £9m goodwill write-off from the closure of UK Pallets earlier […]
City Link narrowed its losses by 54% in 2012, but a reduction in volumes from higher margin B2B customers meant that its performance was behind the expectations of parent company Rentokil Initial.
UK Pallets is to close, after parent company UK Mail pulled the plug following years of poor profitability. The closure will cost UK Mail £1m, plus asset write-downs of £2m.
City Link cut its first quarter losses by more than a third but remained loss-making ahead of its sale to turnaround investor Better Capital.