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 […]
Tuffnells Parcels Express has been acquired by newspaper and magazine distributor Connect Group for £113.4m.
Menzies Distribution has delivered new contracts with the Frontline Group, winning the magazine sales and distribution company’s business from previous transport supplier CM Downton.
Connect Group has continued to enjoy growth in the first half of its trading year driven by its acquisition of Tuffnells Parcel Express in 2014.