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 […]
UPS’ failed attempt to take over TNT Express left a shadow of uncertainty hanging over the Netherlands-based express carrier. But it has emerged with a clear strategy for success as TNT Express Services UK & Ireland Managing Alistair Cochrane tells Steve Hobson.
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 European Commission’s decision to prevent UPS from acquiring TNT Express “risks reducing competition, not increasing it”, an analyst at Transport Intelligence said. UPS has now pulled out of its multi-billion Euro plans to take over TNT Express, which the logistics analyst believes highlights the scale of the challenges the US parcel carrier faced in regard to meeting the regulatory requirements. Transport Intelligence head of consultancy Joel Ray said: “Their decision making process looks flawed, caused by a fundamental lack of […]