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. In a trading update today (13 August), the group said that “due to the current market conditions and outlook” bids received during the tender process for the 16 freehold and long leasehold Tuffnells properties, which were expected to raise £35m before tax, “did not meet […]
Tuffnells has announced a new board of directors amid an expansion drive following a successful year since being sold by the Connect Group last May.
Tuffnells Parcels Express contributed £114m of revenue and £9.7m of operating profit to its new owner Connect Group in the year to the end of August, group chief executive Mark Cashmore has revealed.
Tuffnells owner Connect Group has been given the green light by the Competition and Markets Authority (CMA) to sell its care and education division to education resource provider RM.