A growing customer base and increased network capacity drove growth at Tuffnells in the year to 31 August 2016 results, underpinning a successful performance for owner Connect Group. The parcel firm, which specialises in irregular dimensions and weights, saw turnover increase 7.3% year-on-year, from £162.6m to £174.4m. Its operating profit for the same period grew 4.9% to £15m (2015: £14.3m), though the company’s profit margin would have been even higher if not for investment in infrastructure. This saw the company open new depots […]
TNT Express has admitted that it is unlikely to hit its profit improvement target for 2015, following an increase in competitive pressures and poor trading conditions in Europe.
The European Commission (EC) believes “substantial remedies are needed” before the proposed takeover of TNT Express by UPS can be cleared. In a merger review speech made on Friday (2 November), Joaquín Almunia, EC vice-president responsible for competition, said that “serious competition concerns would arise” if it went ahead without revisions. Last month the EC revealed that approval would only come if the resulting company would be challenged enough by other parcel firms. TNT Express and UPS have since received […]
Palletline has completed its new-look management team with the appointment of an operations director.