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. Connect Group, which also owns Smith News, saw annual profit nosedive by 200% last year after a failed restructuring of the business by the previous management team. In the 19 weeks to 12 January 2019, it said it had made good progress with its turnaround plan, which has […]
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.
Connect Group has warned its performance since May has been “slightly below” market expectations, as it revealed that its plan to slash group debt through the sale and leaseback of property had hit the buffers.
Connect Group’s Smiths News has struck a long term deal with magazine distributor Marketforce, worth £130m in annual turnover.