Connect Group has revealed further details of the strategic review of its troubled Tuffnells business after announcing that CEO Jos Opdeweegh has stepped down. He will be replaced by new interim CEO John Bunting. The group has also published its preliminary results for the year ended 31 August 2019 which show Tuffnells sales of £164.6m were down by 6.4% resulting in an Adjusted Operating Loss of £14.1m, down by £9.1m. Overall group revenue was down 4.3% to £1,467.9m and profit […]
A 90% plummet in DX Group’s share price has prompted its largest shareholder to call for the removal of two board members for their “inexcusable” performance.
Tuffnells has moved into a new, purpose-built main DC in Sheffield. The new 20,000ft² site, built on four acres, has 51 loading bays and will be home to 139 Tuffnells employees.
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.