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. Announcing annual results for the year to 31 August 2018, the business, which also owns Smiths News and recently disposed of its Pass My Parcel network, made a pre-tax loss of £35.5m (2017: profit of 34.2m). Annual turnover was 3.8% lower year on year at […]
Tuffnells Parcels Express MD Chris Ward is leaving the business following its integration within parent company Connect Group.
Connect Group-owned Smith News has renewed a major deal with magazine importer Seymour Distribution worth almost £400m.
Express parcels and mail provider UK Mail Group says it is taking action to plug the gaps in its pallet distribution business UK Pallets. It reported a significant decline in operating profit from this division during the first six months of the financial year. While revenue from its pallets business rose 0.8% to £14.3m in the six months to 30 September compared to the same period last year, operating profit fell over 26% to £800,000, said the firm. UK Mail […]