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.
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’s CEO and CFO are to leave the business and its Pass my Parcel network will be closed, following a grim trading update that laid bare significant challenges at Tuffnells.