Connect Group’s CEO and CFO are to leave the business and its Pass my Parcel network will be closed, following a grim trading update that laid bare significant challenges at Tuffnells. The update said that the group’s performance in the third quarter had been “extremely disappointing”, and Connect had consequentially “materially reduced” its pre-tax profit forecast for the full year. A difficult peak period for express parcels carrier Tuffnells contributed to this, it added. Back in May speaking about its […]
Connect Group saw its revenue climb 0.2% in the 20 weeks to 21 January 2017 with it parcel freight division leading the way.
Connect Group has seen its annual profit collapse by more than 200% after a calamitous period, which saw its one time star-performer Tuffnells lose its way and attempts to restructure the group hit the wall.
Tuffnells owner Connect Group has put property valued at up to £35m on the market as it revealed that it was targeting second half return to profitability for its irregular freight business.