Tuffnells Parcels Express contributed £114m of revenue and £9.7m of operating profit to its new owner Connect Group in the year to the end of August, group chief executive Mark Cashmore has revealed. The parcels firm – which Connect Group acquired in November last year and subsequently said was exceeding expectations – put in a “really strong performance” in the eight months to the end of the financial year, bringing on around 1400 new customers, growing business from existing clients […]
DX Group saw turnover slip during the first half of its financial year as it continued with its strategy of ending commercially unattractive contracts that were inherited with its acquisition of the former Nightfreight business.
TNT Express has said it hopes to see a “positive impact” from its profit improvement plan in the second half of 2013, after reporting a 26% drop in first quarter EMEA (Europe, Middle East and Africa) operating profit.
City Link parent firm Rentokil Initial says its recovery plan for the parcels courier is on track despite posting an £18.5m operating loss for the first six months of the year. This 3.8% year-on-year reduction of its operating losses came as revenue rose 3.5% to £149.5m for the six months ending 30 June. Alan Brown, CEO at Rentokil Initial, says: “We expect losses to reduce further in Q3 and for the business to be profitable in Q4.” Revenue for the […]