Connect Group sees annual profit nosedive 200% after failed restructuring

Tuffnells new livery

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 […]