Increased volumes at Tuffnells Parcels Express and Pass My Parcel failed to offset falling newspaper and magazine sales in a recent trading update from Connect Group, which saw its turnover take a hit. Group turnover was down 3.5% in the 19 weeks ended 19 January 2018, reported in a gloomy update listing delayed contracts, declining sales and market uncertainty as reasons for a predicted drop in profitability this financial year. The group’s share price fell almost 30%, from 105p to […]
News International (NI) says it is extending its newspaper distribution contract with own-account operator Smiths News, a deal that is worth over £40m a year. The agreement will see Smiths news distributing copies of the Times, Sunday Times and the Sun until 2019, increasing the group’s market share of NI’s wholesale business to just under half. Smiths News CEO Mark Cashmore says: “We are delighted to be extending our relationship with NI, which further endorses our business model and reinforces […]
Tuffnells Parcels Express has been acquired by newspaper and magazine distributor Connect Group for £113.4m.
Tuffnells Parcels Express MD Chris Ward is leaving the business following its integration within parent company Connect Group.